Uranium Energy (NYSE American: UEC) today announced that it has submitted an offer to supply the U.S. Department of Energy – National Nuclear Security Administration (“NNSA”) in response to the U.S. government tender to launch the national Uranium Reserve. Designed as a 10-year, $10-billion plan, $75 million has been authorized to date for the purchase of uranium and conversion services. “The NNSA initial purchase goal for one million pounds marks an important milestone for the beginning of this program. The NNSA purchases will help jump start our industry and reduce the country’s reliance on uranium from jurisdictions that expose America to precarious supply risks,” said Amir Adnani, UEC’s president and CEO. “Today, those risks include uranium from Russia, its allies and increasingly China. Clearly, domestic supply is critical for U.S. energy and national security. This was in fact one of the primary drivers behind UEC’s acquisition of Russia’s Uranium One Americas, repatriating this important asset back to U.S. ownership and control. The acquisition was not only a highly accretive business transaction, it also increased domestic capability in the nation’s nuclear fuel supply chain. We are looking forward to the continued improvement in the nuclear fuel markets and UEC’s production to help supply America’s uranium needs.”
To view the full press release, visit https://ibn.fm/cf89E
About Uranium Energy Corp.
Uranium Energy is America’s leading, fastest growing, uranium mining company listed on the NYSE American. UEC is a pure play uranium company and is advancing the next generation of low-cost, environmentally friendly ISR mining uranium projects. The company has two production-ready ISR hub and spoke platforms in South Texas and Wyoming, anchored by fully licensed and operational processing capacity at the Hobson and Irigaray Processing Plants. UEC also has seven U.S. ISR uranium projects with all of their major permits in place. Additionally, the company has other diversified holdings of uranium assets, including: 1) one of the largest physical uranium portfolios of U.S. warehoused U3O8; 2) a major equity stake in the only royalty company in the sector, Uranium Royalty Corp; and 3) a pipeline of resource-stage uranium projects in Arizona, Colorado, New Mexico and 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. 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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