A 70-year low in domestic uranium production has Wyoming producers worried. Despite persistent calls from state lawmakers and industry groups to institute federal trade policies to boost domestic demand for the mineral, the industry continues to founder — shedding workers and cutting costs.
Last year, a pair of independent producers petitioned President Donald Trump to implement a pair of “common-sense” reforms to boost U.S. uranium production. Energy Fuels and Ur-Energy recommended requiring that 25 percent of uranium bought by government entities come from the U.S.
Quotas would restrict foreign sourcing of uranium vital to the country’s economy and national security, petitioners reasoned. It would also catapult domestic demand and buoy the ailing uranium sector.
But a recent announcement by the Department of Commerce to delay the release of policy recommendations from the U.S. Nuclear Fuel Working Group to Trump signaled that even a sliver of relief for uranium companies may still be far off.
“We need to have real demand in which someone is purchasing uranium at a price that is sustainable for continuing operation and development,” explained Paul Goranson, chief operating officer for Energy Fuels.
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