NYSE American: UEC
CORPUS CHRISTI, Texas,
May 1, 2024 /PRNewswire/ - Uranium
Energy Corp (NYSE American: UEC) or the
"Company") applauds last night's vote by the United States Senate for
passing H.R. 1042, a bill to ban Russian uranium
imports into the United States, by
unanimous consent. The House of Representatives passed the bill in
December of 2023.
Senator Barrasso of Wyoming
stated: "I have fought for years to end America's reliance on
Russian nuclear fuel. Our efforts have finally paid off with
passage of our bill to ban these imports once and for all.
Wyoming has the uranium to replace
Russian imports, and we're ready to use it. Our bipartisan
legislation will help defund Russia's war machine, revive American uranium
production, and jumpstart investments in America's nuclear fuel
supply chain. This is a tremendous victory. I'm grateful to members
of both parties for helping get this over the finish
line."
Senator Manchin of West
Virginia stated: "It is unconscionable for the United States of America, as the
superpower of the world, to contribute to Vladimir
Putin's ability to finance his unlawful war against
Ukraine through our reliance on
Russia for the uranium we need to
power our nuclear reactors. I am proud to have worked on this
legislation with Ranking Member Barrasso to put an end
to Russian uranium imports, which simultaneously unlocks
$2.72 billion to ramp up domestic
uranium fuel production. Building on initiatives I worked to
include in the Energy Act of 2020, the Bipartisan Infrastructure
Law, and the Inflation Reduction Act, this legislation is one more
critical step toward reshoring our nuclear supply
chains."
Amir Adnani, President and CEO stated:
"We thank both chambers of Congress for passing this bipartisan
bill that demonstrates the U.S. commitment to nuclear
energy, the carbon free energy source that powers one in every five
homes in America. Upon enactment, this will strengthen United States energy and national security,
ending an untenable reliance on Russian uranium imports. This new
law, in conjunction with the recently passed Nuclear Fuel Security
Act, creates a firm foundation for long-term growth of the
U.S. uranium industry to supply the fuel that powers
American households, data centers, and industrial base with clean
baseload power. As the fastest growing
U.S. uranium company, we are delighted to have this
exciting backdrop along with positive global uranium market
fundamentals and advance the re-start of uranium production in
Wyoming this August, followed by
the resumption of our South Texas
operations next year."
About Uranium Energy
Corp
Uranium Energy Corp is the fastest growing supplier of the fuel
for the green energy transition to a low carbon future.
UEC is the largest, diversified North American focused
uranium company, advancing the next generation of low-cost,
environmentally friendly In-Situ Recovery ("ISR")
uranium projects in the United
States and high-grade conventional projects in Canada. The Company has two production-ready
ISR hub and spoke platforms located in South Texas and Wyoming. These two production platforms are
anchored by fully operational central processing plants and served
by seven U.S. ISR uranium projects with
all their major permits in place. Additionally, the Company has
diversified uranium holdings including: (1) one of the largest
physical uranium portfolios of North American warehoused
U3O8; (2) a major equity stake in Uranium
Royalty Corp., the only royalty company in the sector; and (3) a
Western Hemisphere pipeline of resource stage uranium projects. The
Company's operations are managed by professionals with decades of
hands-on experience in the key facets of uranium exploration,
development and mining.
X (formerly known as Twitter): @UraniumEnergy
Stock Exchange Information:
NYSE American: UEC
WKN: AØJDRR
ISN: US916896103
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SOURCE Uranium Energy Corp