Doing so would unlock federal funding and accelerate permitting for uranium projects in the US, where uranium production has been growing slightly since the uranium oxide (U3O8) spot price hit $106 per lb. early last year. Companies such as Energy Fuels (NYSE: UUUU; TSX: EFR), Uranium Energy (NYSE-AM: UEC) and Cameco (TSX: CCO; NYSE: CCJ) could benefit.
Though the price has drifted down to the current level of $71 per lb., it still sits higher than it did in the decade after the Fukushima disaster
Meanwhile, demand for nuclear is rising amid strong interest in zero-emissions energy and as a source for power-hungry artificial intelligence servers.
Politics meets supply
But the rising demand makes for some awkward friction with Trump’s ‘America First’ sentiment, focused on procuring domestic sources of commodities, and the reality of where uranium supplies are sourced.
The amount of U3O8 produced in the…
