(RTTNews) - Uranium Energy Corp. (UEC) has applauded the White House action aimed at reducing reliance on nuclear fuels from Russia. The company said the U.S. must proactively address the potential impacts of a sudden cut-off, ban or embargo of Russian uranium and nuclear fuel.
On September 2, a supplemental appropriations request was made from President Biden to Congress for the continuing resolution, including $1.5 billion for the Department of Energy to acquire Low Enriched Uranium for the existing commercial nuclear fleet that power one in five homes in America and High-Assay Low Enriched Uranium for emerging advanced and small modular reactors.
"It only makes sense that we increase our uranium production here in the U.S. and that a significant portion of these new appropriations, if granted, will be used to achieve that objective," said, UEC Chairman, Spencer Abraham.
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