UEC - InvestorNewsBreaks - Uranium Energy Corp. (NYSE American: UEC) Responds to Senate Passing of Bill Banning Russian Uranium Imports
Uranium Energy (NYSE American: UEC), a U.S.-based uranium mining and exploration company, is responding to the passing of a bill by the United States Senate. According to the announcement, HR 1042 is a bill to ban Russian uranium imports to the United States that has been passed unanimously by the senate; the house passed the bill late last year. Sponsors of the bill noted that the legislation is focused on ending America's reliance on Russian nuclear fuel and will also help defund Russia's war machine, revive American uranium production and jumpstart investments in America's nuclear fuel supply chain. The bill is also designed to unlock $2.72 billion to ramp up domestic uranium fuel production. “We thank both chambers of Congress for passing this bipartisan bill that demonstrates the U.S . commitment to nuclear energy, the carbon-free energy source that powers one in every five homes in America,” said Uranium Energy president and CEO Amir Adnani in the press release. “Upon enactment, this will strengthen United States energy and national security, ending an untenable reliance on Russian uranium imports. This new law, in conjunction with the recently passed Nuclear Fuel Security Act, creates a firm foundation for long-term growth of the U.S. uranium industry to supply the fuel that powers American households, data centers, and industrial base with clean baseload power. As the fastest-growing U.S. uranium company, we are delighted to have this exciting backdrop along with positive global uranium market fundamentals and advance the restart of uranium production in Wyoming this August, followed by the resumption of our South Texas operations next year.”
To view the full press release, visit https://ibn.fm/9bZCf
About Uranium Energy Corp.
Uranium Energy Corp is the fastest-growing supplier of the fuel for green-energy transition to a low-carbon future. UEC is the largest, diversified North American-focused uranium company, advancing the next generation of low-cost, environmentally friendly, in-situ recovery (“ISR”) uranium projects in the United States and high-grade conventional projects in Canada. The company has two production-ready, ISR hub-and-spoke platforms in south Texas and Wyoming. These two production platforms are anchored by fully operational central processing plants and served by seven U.S. ISR uranium projects with all their major permits in place. Additionally, UEC has diversified uranium holdings including: (1) one of the largest physical uranium portfolios of North American-warehoused U3O8; (2) a major equity stake in Uranium Royalty Corp., the only royalty company in the sector; and (3) a Western Hemisphere pipeline of resource-stage uranium projects. The company's operations are managed by professionals with decades of hands-on experience in the key facets of uranium exploration, development and mining. For more information about the company, visit www.UraniumEnergy.com.
NOTE TO INVESTORS: The latest news and updates relating to UEC are available in the company’s newsroom at https://ibn.fm/UEC
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