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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Post by mangoeon Sep 15, 2024 1:05pm

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⚡️📰 Upcoming demand for Western mined #Uranium surged this

John Quakes

@quakes99 -

Upcoming demand for Western mined #Uranium surged this past week amid elevated supply risks as the global #Nuclear Renaissance continued to pick up speed! Here are the major stories I'm tracking:

In the wake of French Orano & TVA teaming up to build a new multi-billion dollar centrifuge Uranium enrichment plant in the USA to produce American-made reactor fuel Centrus Energy announced signing of a 10-year contract with South Korea's KHNP to supply low-enriched Uranium (LEU) to fuel their reactor fleet. Centrus now has $1.8 Billion in committed LEU sales to support building new enrichment capacity at its American Centrifuge Plant in Piketon, Ohio. Both Orano & Centrus have submitted supply proposals to the US Department of Energy's $3.4 Billion LEU purchase RFP (closing date was 9 September) which requires that ALL supplied LEU MUST be enriched in the USA from yellow cake U3O8 that MUST be mined in the US or by an allied partner. More US domestic enrichment capacity = more demand for Western mined Uranium.
prnewswire.com/news-releases/

On 11 September #Russia's President Putin directed his Prime Minister, Mikhail Mishustin, to consider putting restrictions on #Uranium exports to Western nations to retaliate against Russian sanctions. Foreign Minister Sergei Ryabkov confirmed on 14 September that Russia plans to limit the export of #Uranium to the United States, but "will not act rashly" which suggests export restrictions will not result in an immediate ban on all US exports. We wait to see exactly what #Uranium export limits will be specifically applied to the US which has already put a ban on Russian imports until 2040, with some waivers issued so far that end in 2026. No mention yet of limits to be placed on exports to the EU.
lenta.ru/news/2024/09/1

Russian news site Neftegaz.ru published an article with the headline "Kazakhstan may refuse to export uranium to Western countries because of sanctions against Russia" quoting Kazatomprom CEO Meirzhan Yussupov saying that "restrictions on Moscow make the supply of uranium to the EU more complex and expensive" making it much easier to sell to their Asian partners and Russia who can consume all of Kazakhstan's production. "Gravitational attraction to Moscow and Beijing is intensifying, since it is much easier to sell to them." Kazatomprom appears to be quietly sending signals to Western fuel buyers that it may not continue to sign uranium supply contracts with the West.
neftegaz.ru/news/nuclear/8

South Korea has issued a license to build 2 new APR1400 reactors, Shin Hanul units 3 & 4 that together will add 2.8 Gigawatts of new Nuclear power generation which will consume nearly 1.5 Million lbs per year of Uranium sourced from Western suppliers.
world-nuclear-news.org/articles/const

Construction is now underway to expand capacity by over 30% at Orano's Georges Besse 2 Uranium enrichment plant in France, at a cost of 1.7 Billion euros as demand for Western reactor fuel continues to rise to replace Russian supply. 30% more French enrichment capacity = 30% more demand for Western mined Uranium.
x.com/why_the_west/s

Oracle chairman and co-founder Larry Ellison says that electricity demand from Artificial Intelligence computing is "crazy" so Oracle is planning to go Nuclear with an over 1 Gigawatt data center powered by 3 small modular nuclear reactors. cnbc.com/2024/09/10/ora

Site work is now underway at the first Nuclear power plant to be built in the Uranium mining nation of Uzbekistan that will host 6 x 55MW Russian RITM-200N small modular reactors globalconstructionreview.com/site-work-begi

In an astonishing reversal of its 1987 ban on Nuclear power Italy's Minister of the Environment has announced that new laws to allow Nuclear energy will be introduced later this year and that a decree on the matter will come in 2025. x.com/visegrad24/sta

Sweden is budgeting over US$97 million in 2025 to expand fossil-free electricity production, including an expanded investment towards new #Nuclear power and streamlining the permitting process for new reactors. world-nuclear-news.org/articles/swede

Fund managers are betting that nuclear energy is making a comeback with Robeco Institutional Asset Management, J O Hambro Capital Management and Janus Henderson Investors among the growing number of firms that see a role for stocks exposed to nuclear energy in their portfolios. “In the past, we were more on the very cautious side and exclusionary approach,” said Chris Berkouwer, lead manager for Robeco’s Net Zero 2050 Climate Equities fund. But it’s now clear that nuclear is “an indispensable part” of eliminating greenhouse-gas emissions. At BlackRock Investment Institute, a unit of BlackRock Inc., nuclear is regarded as part of the energy mix needed to power the vast data centers being built by the technology industry. “As AI adoption grows, that power demand is likely to at least double — and possibly quadruple — by the end of this decade” bloomberg.com/news/articles/

A new study published by the US Department of Energy sees potential to more easily double the amount of US Nuclear power by installing up to 95 Gigawatts of new nuclear generating capacity at already licensed existing and recently retired US nuclear power plant sites. Another up to 174 GW of new Nuclear capacity could be built at retiring coal-fired power plants. energy.gov/ne/articles/co

Westinghouse Electric Company of the USA and Hyundai Engineering & Construction of South Korea have signed a teaming agreement to pursue AP1000 reactor construction opportunities in Sweden and Finland. world-nuclear-news.org/articles/westi

Poland has requested financing approval from the European Commission to construct its first Nuclear power plant The Lubiatowo-Kopalino Nuclear power plant will host three 1250MW Westinghouse AP1000 reactors. Construction is due to begin in 2026, with commissioning of the first unit in 2033. reuters.com/business/energ

GE Hitachi Nuclear Energy has signed four memorandums of understanding with Aecon, AtkinsRalis, Jacobs and Laing O'Rourke as part of its preparations in the UK's on-going small modular reactor selection contest. world-nuclear-news.org/articles/ge-hi

Microsoft sees nuclear in the same vein as renewables for helping it to meet its clean energy goals - but currently has no intention of directly investing in its own nuclear power plants. world-nuclear-news.org/articles/nucle

Finland's Helen has launched the first phase of its nuclear programme, aimed at constructing a small nuclear power plant for producing heat for Helsinki city. world-nuclear-news.org/articles/finni

Small modular reactors to power Malaysia into the Nuclear Age “Malaysia has the potential to swiftly adopt advanced energy technologies and could become a leader in nuclear technology among its regional partners.” themalaysianreserve.com/2024/09/09/sma