A Biden Initiative Could Wean U.S. Off Russian Uranium While Boosting Domestic Exploration Companies Like Laramide
An Emerging Markets Sponsored Commentary
ORLANDO, Fla., July 13, 2022 (GLOBE NEWSWIRE) -- Over past issues of the Emerging Market Report we’ve been attentive to the fact that geopolitical events could be impactful for Laramide Resources Ltd. (TSX: LAM) (ASX: LAM) (OTCQX: LMRXF) which holds diversified uranium assets in the exploration stage that are strategically positioned in the United States and Australia.
We knew that the conflict in Ukraine was very likely to affect the spot price for Uranium, and more importantly, change the supply chain. Since Laramide’s operations are located in the United States and Australia, two stable tier one jurisdictions.
We believe a major change may be imminent and it could be more important for American producers and exploration companies than imagined. Investors in U.S.-based Uranium exploration companies like Laramide – which has three prospective American Uranium mines – may be interested in monitoring the news to see how a new bill from the Biden administration could change the landscape for U.S.-based Uranium production.
O.K. let’s break down some of the reporting.
First, Bloomberg is reporting that “The Biden administration is pushing lawmakers to support a $4.3 billion plan to buy enriched uranium directly from domestic producers to wean the U.S. off Russian imports of the nuclear-reactor fuel, according to a person familiar with the matter.”
That’s huge for U.S. uranium if it happens. And while we’re not sure that Laramide will benefit directly from this $4.3 billion plan that Bloomberg is reporting, they would seem to be in a very good place with regard to the line “wean the U.S. of Russian imports” which sounds very much like a long term move, and not a temporary action.
It’s a compelling perspective. And if this bill passes it could be a win/win for domestic uranium producers and exploration companies. For the record, the status of each of Laramide assets in the exploration stages varies so please visit the linked-to page to see where they are on the path to production.
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