UUUU - Biden Signs Ban On Russian Uranium Into Law In Win For Domestic Miners | Benzinga
President Joe Biden on Monday signed into law a ban on enriched uranium from Russia in the latest U.S. attempt to deprive Moscow of funding for its war in Ukraine.
The move is a win for North American uranium mining companies that have been ramping up production in response to rising prices for the nuclear fuel amid expectations of increasing demand as governments around the world look to decarbonize electricity production.
"The Russian-Ukraine conflict really put some light on how we became overly dependent on Russian nuclear fuel products," Mark Chalmers, CEO of Colorado-based uranium producer Energy Fuels (NYSEAMERICAN: UUUU), said during a call with reporters on Tuesday. "This is a day where we can say we're taking a significant step to reduce that dependency."
Also Read: US Lawmakers Vote To Ban Russian Uranium In Win For North American Miners
Biden's signature on the broadly bipartisan bill ...