The World Nuclear News reported on Monday that Centrus Energy (NYSEAM:LEU) received a waiver from the U.S. Department of Energy that will allow the company to import low-enriched uranium from Russia to customers in the United States in 2024 and 2025.
According to the agency, Centrus filed its waiver request application in May requesting to cover deliveries from Aug. 11 to the end of 2027.
According to the World Nuclear News, the Prohibiting Russian Uranium Imports Act will go into effect as of Aug. 11 and will ban unirradiated, low-enriched uranium imports into the United States that are produced by the Russian Federation or a Russian entity.
The waiver process is to ensure U.S. nuclear power plants do not go through supply disruptions as the nation continues to build on its own low-enriched uranium capacity.
Uranium spot price update
As of the time of this writing on Wednesday, the uranium spot price sits at US$83.15, according to Business Insider, which is down just slightly from $85.35 from last week.
Uranium companies in the spotlight
Aero Energy Ltd. (TSXV:AERO) completed its 2024 summer drill program at the Murmac Uranium Project in Northern Saskatchewan.
The program tested regional targets across the project for high-grade, unconformity-related basement-hosted deposits typical of the Athabasca Basin and was operated by Fortune Bay Corp (TSXV: FOR).
“The discovery of a new zone of radioactivity in the right rocks from wild-cat drilling in only our second ever hole underscores our strong conviction that unconformity-related basement-hosted uranium deposits akin to Arrow, Triple-R and Gryphon could exist in the area,” Galen McNamara, CEO of Aero Energy, said in a statement.
Myriad Uranium Corp. (CSE:M) revealed it had relinquished its interests in Niger, effective immediately and terminated its property option agreement with Loxcroft Resources.
“Myriad has been prevented by reasons beyond its control from conducting operations in Niger since the July 2023 coup d’etat. We are now focusing all our attention on the Copper Mountain Uranium Project in Wyoming, USA, a project with significant past production, a large historical uranium resource, and exciting exploration upside,” Thomas Lamb, CEO of Myriad Uranium, said in a release.
Meanwhile, SKRR Exploration (TSXV:SKRR)began summer drilling to test conductors on the Clearwater West property in Saskatchewan.
The Clearwater West Project is composed of three contiguous mineral claims totalling approximately 11,786 hectares. SKRR Exploration has an option to acquire up to a 70 per cent interest in the project from F3 Uranium (TSXV: FUU).
What will be the top uranium headlines next week? Stay tuned!
Check out Stockhouse’s Thematic Insights report, “The Future of Energy.”
Join the discussion: Find out what everybody’s saying about public companies and hot topics about stocks at Stockhouse’s stock forums and message boards.
The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
(Top image: Adobe Stock)