U.S.-based uranium miners Energy Fuels (NYSEMKT:UUUU) and Ur-Energy (NYSEMKT:URG) say they are prepared to quickly ramp up production if Pres. Trump approves their request for restrictions on imports.
Trump could decide as soon as tomorrow on the petitions from the two companies which are seeking quotas requiring 25% of the U.S. uranium market be sourced domestically.
Energy Fuels could raise production to 2.5M-3M lbs./year under the right conditions, COO Paul Goranson tells Reuters.
UR-Energy could ramp up output at its existing Lost Creek mine in Wyoming to 1M lbs./year and start up its Shirley Basin project "relatively quickly," according to John Cash, its VP of regulatory affairs.
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