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US Agency submits uranium import probe to White House

18-Apr-2019
US Agency submits uranium import probe to White House

On Monday, the 15th of April 2019, the US Commerce Department had submitted the results of a national security investigation linked to uranium imports to the White House, a spokesman for the US Commerce Department said. A “section 232” investigation was prodded by a petition filed by two of the US uranium mining companies, Energy Fuels Inc.

and Ur-Energy Inc, neighing over complaints that foreign competitors including Russ and Kazakhs, had forced them to slash output capacity and downsize their workforce. Nonetheless, the US nuclear power generators had argued that additional tariffs or quotas could result a heavy payoff for the struggling industry and apparently would cause some of the nuclear reactors to shut down.

Spokesman for US Commerce Department had declined to discuss the terms of the recommendation, saying that the industry proposals were highly confidential. However, the uranium companies, who had filed petition, proposed two remedies, such as domestic uranium miners should supply 25 percent of entire US market and US federal agencies as well as utilities must purchase as little as 12 million pounds of Uranium per year.

The recommendations were expected to rekindle the entire uranium mining industry, which had still been recovering after experiencing a historic fall of production back in 2017.




Source :- Financial-world.org

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