As U.S. Prepares to Fix Production Gap, Uranium Energy Corp. (NYSE American: UEC) Further Grows Only Recent U.S. Uranium Discovery
May 7, 2021
- Despite consuming 27% of the world’s uranium requirements, the U.S. produces virtually no uranium
- Texas-based Uranium Energy Corp. has more than 100 million pounds of uranium in the ground in its portfolio, in addition to 2.1 million pounds of warehoused physical uranium inventory
- UEC recently completed 40 development holes at its flagship Burke Hollow project, adding data to what potentially is the largest Goliad Formation deposit ever discovered in the South Texas Uranium Trend
Currently, U.S. uranium production is practically nonexistent: Most of the country’s requirements are from foreign sources with almost half coming from Former Soviet Union countries, including Russia, Kazakhstan and Uzbekistan state owned enterprises. This is a supply/demand imbalance of epic proportion, considering the U.S. operates the largest fleet of nuclear reactors in the world and consumes about 27% of the world’s uranium requirements. For the first time in 48 years, politicians on Capitol Hill are lending bipartisan support to nuclear energy. Coupling national security exposures with federal mandates to implement additional clean energy, Uranium Energy (NYSE American: UEC) is further advancing its portfolio of uranium projects in the U.S.
In December, an omnibus spending bill passed by Congress provided what UEC Chairman and former U.S. Energy Secretary Spencer Abraham called a…
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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