CHARTS: The coming critical minerals trade war is BRICS short of a load
"While a large number of countries around the world continue to talk about securing raw material supply, China is actually doing something about it."
Uranium Energy said on Tuesday it has restarted uranium production at its Christensen Ranch operations in Wyoming, with shipments expected in November or December.
Uranium is the most widely used fuel for nuclear energy. With a global push for clean energy, nuclear generation could roughly double by 2050, and so should supply, according to the International Energy Agency.
With a rebound in uranium prices, miners are planning to restart defunct mines to boost the domestic supply for the nuclear reactor fuel at a time when the country gets most of its fuel from Russia.
“US production has been virtually non-existent for many years … This situation is changing by way of successive and unprecedented bipartisan US government programs designed to stimulate growth of domestic uranium production as the foundation of a robust nuclear fuel supply chain,” said Uranium Energy’s CEO Amir Adnani.
The recovered uranium from the Christensen Ranch will be processed at the Irigaray Central Processing Plant, which is under regulatory review to increase capacity to 4 million pounds of triuranium octoxide – a uranium compound – from 2.5 million pounds, the company said.
(By Vallari Srivastava; Editing by Alan Barona)
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