ESG

"We believe that president Trump will recognise the danger of imported uranium…"

American uranium producers Ur-Energy (TSX: URE) and Energy Fuels (TSX: EFR) are hopeful of a positive outcome to a US investigation into the effects of uranium imports on national security.

Staff reporter
US president Donald Trump has less than 90 days to act on recommendations

US president Donald Trump has less than 90 days to act on recommendations

The pair petitioned the US Department of Commerce under Section 232 of the Trade Expansion Act of 1962 in January 2018, seeking a 25% quota in America's nuclear market for domestic production and a "buy American" policy for US government entities that use uranium.
 
They said the DOC had submitted its report to the White House on April 14 and president Donald Trump had 90 days from then to act on its recommendations.

"We have not seen the DOC report, which is expected to remain confidential, but we believe the facts are clear," the miners said in a joint statement.

"Uranium imports, increasingly from state-owned enterprises in adversarial countries like Russia and its allies, created a stark national security crisis.

"The once robust American uranium mining industry is disappearing because a flood of state-subsidised imports has made fair competition impossible.

"We believe that president Trump will recognise the danger of imported uranium and act before it is too late."

Trump announced tariffs and quotas on aluminium and steel last year following recommendations from a separate Section 232 investigation.

The uranium investigation has added a layer of uncertainty to the commodity price, which rose as high as US$29.10/lb on the spot market in November but has since softened to about $25/lb.

Shares in Ur-Energy, Energy Fuels and fellow US uranium producer Peninsula Energy (ASX: PEN) have been on the rise in recent months but have all eased a little this week.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.

editions

Mining Journal Intelligence Mining Equities Report 2023

Access an exclusive, inside look on the quarterly mining IPOs and secondary raisings data and mining equities performance tables with an annual Stock Exchange Comparisons supplement.

editions

Mining Journal Intelligence World Risk Report 2023 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 121 jurisdictions globally, built on 11 ‘hard risk’ metrics and an industrywide survey.

editions

Mining Journal Intelligence Global Leadership Report 2023: Social licence

Gain insights into social licence trends and best practices from interviews with 20+ top mining company executives and an industrywide survey.