Uranium Energy Corp UEC

Metals & Mining Industrial Metals & Minerals

Uranium Energy Corp. is a uranium mining company. It advances its In-Situ Recovery (ISR) mining uranium projects in the United States and conventional projects in Canada. It offers two production ready ISR hub and spoke platforms in South Texas and Wyoming. These two production platforms are anchored by operational central processing plants and served by seven U.S. ISR uranium projects. Additionally, it has diversified uranium holdings, including uranium portfolios of North American warehoused U3O8; an equity stake in Uranium Royalty Corp., and a Western Hemisphere pipeline of resource stage uranium projects. The Texas Hub and Spoke Project includes Hobson Central Processing Plant (CPP), Burke Hollow, Goliad, Palangana, and Salvo. The Wyoming Asset Hub and Spoke In-Situ Recovery Project includes Christensen Ranch and Irigaray (Willow Creek), Moore Ranch, Ludeman, Allemand-Ross, and others. It also owns Sweetwater Plant, Red Desert Uranium Project and Green Mountain Uranium Project.

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Uranium Energy Corp

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Post by mangoeon May 12, 2024 11:04pm

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Post# 36036213

Are U confused😖 and in need of a simpler way to understand

John Quakes

@quakes99 -

Are U confused and in need of a simpler way to understand the US ban on imports of low-enriched #uranium (LEU) from #Russia? Try this:

#Nuclear fuel buyers in the US sign contracts with Russian enrichers to supply them with LEU to fuel the US reactor fleet.

Centrus $LEU acts as an intermediary handling those orders and the associated shipments from Russia to the US fuel buyers, which is their primary business line.

Under the terms of the Russian Suspension Agreement (RSA), US fuel buyers together in total are allowed to order up to about 25% of total US uranium fuel consumed in each calendar year.

LEU is NOT drums of mined #U3O8! There is no ban on shipping raw unenriched uranium into the US as drummed U3O8 or cylinders of unenriched UF6. There basically are none of those coming from Russia at this time anyway. The only uranium coming from Russia is LEU to be fabricated into fuel rods.

LEU from Russia is shipped from St. Petersburg to Baltimore in the US as dangerous cargo carried by a small fleet of licensed cargo ships operated by a Canadian carrier ARRC. arrcm.com/fleet.html

The LEU can be packaged as powder, solid pellets, fuel assemblies or specialized cylinders of enriched gas UF6. The World Nuclear Association has published an excellent guide to the shipping of LEU: world-nuclear.org/our-associatio

So, the upshot of the US ban boils down to the termination of all cargo vessel shipments of LEU from St Petersburg to any US port beginning 90 days after President Biden signs the ban into law. No LEU that's been produced in Russia, or was swapped or exchanged for Russian LEU in another nation to attempt to circumvent the ban, will be allowed to enter the US unless the receiving US fuel buyer has secured a waiver from the US Department of Energy. Period. Simple.

There's no ban on owning or shipping drums of U3O8 in or out of the US. The ban only applies to Russian LEU being shipped to the US. No owner of Russian origin uranium is being forced to liquidate their holdings. This is simply a ban on incoming Russian shipments that normally would provide fuel for 25% of US LEU fuel needs.

Therefore, US fuel buyers with Russian LEU supply contracts will have to secure a waiver (not easy) or find another non-Russian supplier for the uranium fuel they need in the western uranium market that's already in a deep structural supply deficit.

Hope that helps U understand.