Uranium Energy Corp. (NYSE : UEC)
Reported that the US Senate Committee on Appropriations has released drafts of fiscal year 2021 funding measures and subcommittee allocations that include $150 million for the U.S. Uranium Reserve (https://bit.ly/3ljJUj8).
These bills are the product of bipartisan cooperation among members of the committee.
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| UEC | NYSE: UEC |
| Stage | Production + development |
| Metals | Uranium |
| Market cap | US $ 200 million @ $1.015 |
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Uranium Energy Corp Applauds Historic Draft Bipartisan Senate Funding Measure for the Formation of U.S. Uranium Reserve
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Corpus Christi TX, November 11, 2020 – Uranium Energy Corp. (NYSE American: UEC; “UEC” or the “Company”) is pleased to report the Senate Committee on Appropriations has released drafts of fiscal year 2021 funding measures and subcommittee allocations that include $150 million for the U.S. Uranium Reserve (https://bit.ly/3ljJUj8). Senate Appropriations Committee Chairman Richard Shelby’s statement noted: “By and large, these bills are the product of bipartisan cooperation among members of the committee.”
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The U.S. Uranium Reserve funding is outlined in the Energy and Water Development Subcommittee Bill
highlights (https://bit.ly/3ndGIX8) as:
- “Uranium Reserve Program – $150 million to initiate the program, the same as the budget request.
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The proposed funding level is split between Energy & Water’s Nuclear Infrastructure provisions ($120 million) and Defense Non-proliferation provisions ($30 million). The bill, if passed into law will provide full funding for the Department of Energy (DOE) to implement a program for the domestic Uranium Reserve.”
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UEC CEO and President, Amir Adnani stated; “We applaud this historic bipartisan action which moves us one step closer to funding and implementation of the U.S. Uranium Reserve. We are optimistic the next step of House and Senate conferencing, will go smoothly and result in a final bill before the end of the year. If passed, this bill will enable DOE to begin the funding required to stimulate growth in the domestic uranium mining industry. The U.S. nuclear industry provides about 55% of the nation’s carbon-emission free electricity, with the worlds’ largest reactor fleet of 96 operable reactors.
With the largest U.S. resource base of fully permitted and low-cost In-situ recovery projects in Texas and Wyoming, UEC is ideally positioned to be the leader in a resurgence of domestic uranium mining.”
Amir Adnani | President & CEO
URANIUM ENERGY CORP
NYSE AMERICAN: UEC | www.uraniumenergy.com
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Uranium Energy Corp (UEC: NYSE American)
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.
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