Uranium Energy Corp (NYSE American: UEC, the “Company” or “UEC” – http://www.commodity-tv.net/c/mid,39172,VRIC_2019/?v=298819) is pleased to announce that Fox News published an Op-Ed on March 24th by UEC Chairman, Spencer Abraham, titled “Russian control of U.S. uranium supply is a huge national security problem.” Mr. Abraham is a former U.S. Secretary of Energy and U.S. Senator.
Amir Adnani, CEO and President stated, “As a licensed U.S. uranium producer, UEC is ready to address this urgent challenge with fully-permitted, low-cost, In-Situ-Recovery (“ISR”) uranium projects in Texas and Wyoming. UEC’s strategy of accumulating quality assets in the downturn and advancing their production-readiness has positioned the company to be part of an overall solution reducing U.S. over-dependence on foreign uranium.”
The following is provided with the permission of Fox News.
Russian Control of U.S. Uranium Supply is a Huge National Security Problem
Spencer Abraham | Opinion
Published: March 24, 2019
The Trump administration is to be commended for its “energy dominance” policy with respect to oil and natural gas production, but on domestic uranium mining, used for nuclear power generation and national defense purposes, it is the United States that is being dominated. Fortunately, the administration is considering new corrective measures to address this vulnerability to ensure America’s energy and national security.
The U.S. has become overdependent on foreign uranium. Today, we have the world’s largest commercial nuclear reactor fleet, but our domestic mining industry supplies less than 2 percent of its uranium needs. Instead, foreign uranium accounts for the vast majority of our uranium supply with imports from Russia and countries of the Former Soviet Union (FSU) amounting to over 40 percent of the uranium loaded into U.S. nuclear power reactors.
In 2019, the U.S. uranium mining industry forecasts production here at home will be less than is required for even one of the nation’s 98 operating reactors, and they will not be supplying any uranium for defense purposes.
The U.S. nuclear fuel cycle industry has been subjected to years of excessive imports and other price insensitive supply sources that are not part of a normal free market system. The result is near domination of the market from regions with elevated geopolitical risks, often with agendas contrary to U.S. interests.
Please click here: https://fxn.ws/2CDcHLh for the full article.
About Uranium Energy Corp
Uranium Energy Corp is a U.S.-based uranium mining and exploration company. In South Texas, the Company’s hub-and-spoke operations are anchored by the fully-licensed Hobson Processing Facility which is central to the Palangana, Burke Hollow and Goliad ISR projects. In Wyoming, UEC controls the Reno Creek project which is the largest permitted, pre-construction ISR uranium project in the U.S. Additionally, the Company controls a pipeline of uranium projects in Arizona, New Mexico and Paraguay, a uranium/vanadium project in Colorado and one of the highest-grade and largest undeveloped Ferro-Titanium deposits in the world, located in Paraguay. The Company’s operations are managed by professionals with a recognized profile for excellence in their industry, a profile based on many decades of hands-on experience in the key facets of uranium exploration, development and mining.
Contact Uranium Energy Corp Investor Relations at:
Toll Free: (866) 748-1030
Fax: (361) 888-5041
Stock Exchange Information:
NYSE American: UEC
+Frankfurt Stock Exchange Symbol: U6Z
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