Russia-U.S. tensions could lead to uranium export ban, causing uranium price to soar - Amir Adnani RussiaUStensions AmirAdnani uranium
- Tensions between the United States and Russia over the invasion of Ukraine could lead to sanctions on Russian uranium, which would diminish the United States's nuclear power capabilities and send the uranium price much higher. That is according to Amir Adnani, who is President, CEO and Founder of Uranium Energy Corp , the largest North American focused uranium company.
The U.S. Energy Information Administration states that in 2022, only 174,712 pounds of uranium were produced in the U.S. In 2020 and 2021, there was no domestic uranium mining. "Many producers that are building new mines will need even higher uranium prices," he claimed."Restart opportunities like ours [Uranium Energy Corporation's] will most likely work with that $60 hurdle, but I think prices will need to be well north of that for incentivizing brand new operations."
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