Two uranium miners said Wednesday they are "confident" that US President Trump will certainly impose restrictions on uranium imports after the Commerce Department has recommended urgent action to increase domestic production of 35 "critical minerals" , including nuclear fuel.
The White House is currently reviewing a petition filed by Energy Fuels and Ur-Energy asking the president to oblige US federal utilities to buy domestic uranium so that at least a quarter of US needs are met domestically.
Trump is expected to decide on the petition by July.
“We are confident that (the administration) recognizes the dangers of imported uranium and uses its powers to address this threat and protect US national security,” said Paul Goranson, COO of Energy Fuels, and John Cash, vice president of regulation at Ur-Energy Inc in a joint statement by Reuters.
The US Department of Commerce on Tuesday released a report containing 61 specific recommendations to increase domestic mineral production, including low-interest loans and a Buy American requirement for defense companies.
These measures should save the domestic uranium mining industry, which in 2017 reduced production to historic lows. Current uranium prices hover around $ 20 a pound, compared with highs of $ 140 a pound in 2007.
