Uranium Energy Corp Chairman Spencer Abraham on U.S. Uranium and National Security

Uranium Energy Corp Chairman Spencer Abraham on U.S. Uranium and National Security
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TEXAS – Uranium Energy Corp is pleased to announce USA TODAY  published an Op-Ed on September 20, by UEC Chairman Spencer Abraham titled “Domestic uranium necessary for national security, healthy nuclear energy programs.”  Mr. Abraham is a former U.S. Secretary of Energy and U.S. Senator.

In the USA TODAY piece, Secretary Abraham expresses the need for a healthy U.S. uranium industry, its importance for national security, and the risks the country is facing from over-dependence on foreign uranium.

He also applauds the current administration in their actions to implement constructive policies aimed at rebuilding and maintaining a vibrant domestic uranium and nuclear power industry.

The following is provided with the permission of USA TODAY.

Domestic uranium is necessary for national security, healthy nuclear energy programs
Spencer Abraham
 | Opinion contributor
Published 7:00 a.m. ET Sept. 20, 2018

America used to export uranium, but now it is dependent on other countries. In order to protect ourselves, we need to increase uranium mining.

When I served as Energy secretary under President George W. Bush, our administration was deeply concerned that over 50% of our oil was imported, with much of it coming from unstable places. We considered this a major national security matter.

Today, that national security concern has been solved through a combination of American ingenuity, technology and fully embracing our abundant natural resources. But now, we face a similar national security challenge. The U.S. nuclear fleet, generating 20% of this country’s electricity (and about 60% of our carbon-free energy) has become almost entirely dependent on foreign uranium, much of it from countries with elevated geopolitical risks.

At its peak in 1980, U.S. uranium production stood at 43.7 million pounds, enough to supply all of our U.S. reactors and a substantial portion of our allies’ requirements.

In 2017, U.S. uranium production was less than 2.4 million pounds, accounting for about 5% of the nation’s requirements, even though our uranium reserves are sufficient to meet our domestic demand.

Please click here: https://usat.ly/2PQfx3K for the full article.

Uranium Energy Corp is a U.S.-based uranium mining and exploration company.  The Company’s fully-licensed Hobson Processing Facility is central to all of its projects in South Texas, including the Palangana ISR mine, the permitted Goliad ISR project and the development-stage Burke Hollow ISR project.  In Wyoming, UEC controls the permitted Reno Creek ISR project. Additionally, the Company controls a pipeline of advanced-stage uranium projects in ArizonaColoradoNew Mexico and Paraguay, and a large, high-grade titanium project 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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