Import ban on Russian uranium can drive up prices
(PresseBox) -
In the USA, the Senate has passed a ban on the import of Russian uranium.
This law was adopted unanimously. 90 days after coming into force, there will be no more uranium imports from Russia, although there are still exceptions until January 2028. Possible exemptions relate to export limits established between the Department of Commerce and Russia in an anti-dumping agreement. Without these exemptions, the spot price of enrichment could rise by an estimated 20 percent. If Russia reacts with an export ban, the exemptions would no longer apply.
This news immediately led to a surge in North American uranium mining shares. After all, around a quarter of enriched uranium comes to the USA from Russia. It would therefore come as no surprise if the cost of enriched uranium and the uranium companies were to rise in value. The dollars saved by the USA should be used for the domestic uranium industry. After all, supplying the American nuclear reactors is in the interests of national security and the economic interests of the United States. The USA had already banned the import of Russian oil. The recently passed Nuclear Fuel Security Act and the new law will give the US uranium industry a boost. The uranium companies are naturally pleased about the positive fundamental data regarding the uranium industry.
Uranium Energy - https://www.commodity-tv.com/ondemand/companies/profil/uranium-energy-corp/ - with its uranium projects in the USA and Canada is certainly at the forefront of this. Uranium Energy is pushing ahead with the uranium project in Wyoming in terms of resuming production, as is a project in South Texas.
Another well-positioned uranium company is Cosa Resources - https://www.commodity-tv.com/ondemand/companies/profil/cosa-resources-corp/ - with its uranium projects in the Athabasca Basin in Saskatchewan, Canada.
Current company information and press releases from Uranium Energy (- https://www.resource-capital.ch/en/companies/uranium-energy-corp/ -) and Cosa Resources (- https://www.resource-capital.ch/en/companies/cosa-resources-corp/ -)
In accordance with §34 WpHG I would like to point out that partners, authors and employees may hold shares in the respective companies addressed and thus a possible conflict of interest exists. No guarantee for the translation into English. Only the German version of this news is valid.
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Unternehmensinformation / Kurzprofil:
Datum: 07.05.2024 - 16:34 Uhr
Sprache: Deutsch
News-ID 705010
Anzahl Zeichen: 4168
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