Uranium Energy Corp UEC

Energy

Uranium Energy Corp. is a uranium mining company. The Company advances in In-Situ Recovery (ISR) mining uranium projects in the United States and high-grade 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 projects, including Henday Lake, Carswell, and Milliken.

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Uranium Energy Corp > ⚡Today the new law 'H.R.1042 - Prohibiting Russian #Uranium

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Post by mangoeon Aug 12, 2024 12:18pm

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Post# 36174656

⚡Today the new law 'H.R.1042 - Prohibiting Russian #Uranium

John Quakes

@quakes99 -

Today the new law 'H.R.1042 - Prohibiting Russian #Uranium Imports Act' takes effect as US customs agents begin blocking shipments of low-enriched Uranium (LEU) into the US from all Russian entities, as well as from any other LEU supplier known to be a recipient of Russian LEU that may have been swapped or exchanged for Russian LEU in an attempt to circumvent the imports ban.

The imports ban affects both US Nuclear reactor fuel buyers and those of allied nations who have ordered Russian LEU to be shipped into the US for fabrication into fuel assemblies at US factories.

Waivers may be granted for incoming shipments up until 31 December 2027 after which no further waivers will be granted, resulting in a complete 100% ban on all Russian LEU from 2028 to 2040.

To date, only 1 waiver is known to have been issued. It is a partial waiver to Centrus Energy $LEU allowing some imports into the US from Russia for orders already placed for delivery up until 31 December 2026. No other waivers have been made public so far.

A whole new era begins today that, over the next 3 years, will eliminate all US dependence on Russian LEU to fuel US Nuclear reactors by 2028, which has previously been providing up to 25% of US Nuclear fuel needs.

To further support that transition, the US Department of Energy has issued a $3.4 Billion Request for Proposals to directly purchase US-made LEU that has been converted & enriched inside the US using mined U3O8 supplied by miners in the US & allied partner nations.