Shares of Energy Fuels (TSX: EFR) and Ur-Energy (TSX: URE) moved higher on a report from Bloomberg that the U.S. Department of Commerce is recommending that Washington take measures to protect domestic uranium production.
The June 20 article, quoting three anonymous sources briefed on the matter, said the commerce department believes that the U.S. reliance on uranium imports poses a national security risk and that “among the trade remedies recommended is to require nuclear power plants to purchase a minimum of 5% of the radioactive fuel from U.S. mines.”
The news report said two of the three people interviewed said one option being discussed “would see the quota escalate by five percentage points a year.”
“The matter is far from final,” the article cautioned, “but one person said it is certain that the White House appears poised to take action. Other options being considered include doing nothing or putting limits on uranium from specific countries, one of the people said.”
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