The US National Nuclear Security Administration (NNSA) has awarded the final two contracts in relation to the establishment of a strategic uranium reserve for the country. Both enCore Energy Corp (TSXV: EU) as well as Uranium Energy Corp (NYSE: EUC) this morning revealed that they have officially been awarded contracts to supply the Department of Energy with uranium under previously made proposals.
The strategic uranium reserve is a new reserve established by the US government, as a result of increases in the price of uranium and the importance of uranium for domestic nuclear power plants. In establishing the reserve, the US Congress allotted funding to the tune of $75 million for the establishment of the reserve, with any uranium purchased required to have been provided by a vendor that has “produced uranium at a domestic uranium recovery facility at any time since 1 January 2009.”
The first request for proposal (RFP) […]
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