Ur-Energy’s Jeffrey Klenda on the Executive Order for Critical Minerals and the Impact of the Amended Russian Suspension Agreement on U.S. Uranium Producers

InvestorIntel’s Tracy Weslosky speaks with Jeffrey Klenda, Chairman, President, and CEO of Ur‐Energy Inc. (NYSE American: URG | TSX: URE), about President Trump’s Executive Order on Critical Minerals which called the reliance on critical minerals from foreign adversaries a national emergency. “It not only is a national emergency, I think it has been a national emergency for many years,” Jeffrey told InvestorIntel. “The reality is, of those 35 critical minerals, we are reliant for 31 of them to the tune of more than 50% of our consumption on foreign entities and for 14 of those critical minerals we are 100% dependent.”

Jeffrey went on to provide an update on the extended and amended version of the Russian Suspension Agreement. He explained how it helps the US uranium producers and also closes the loopholes in the agreement to stop Russia from flooding the US uranium market.

Jeffrey also commented on Kazatomprom, Cameco and the US presidential election. “We will see utilities coming back into the marketplace,” Jeffrey said. “We are thinking that will push prices higher before the end of the year and we stand ready. We have kept our operational staff in place, we are ready to ramp up at anytime. We can do it faster, at lower cost than anyone else”

To access the complete interview, click here

Disclaimer: Ur‐Energy Inc. is an advertorial member of InvestorIntel Corp.

Energy Fuels’ Mark Chalmers on production of rare earths from coal-based resources

InvestorIntel’s Tracy Weslosky speaks with Mark Chalmers, President, CEO and Director of Energy Fuels Inc. (NYSE American: UUUU | TSX: EFR), about Energy Fuels’ selection by the U.S. Department of Energy to develop design for the production of rare earths from coal-based resources.

In an InvestorIntel interview that can also be viewed on our InvestorIntel YouTube channel, Tracy and Mark discussed the selection of Energy Fuels, working with a team from Penn State, to develop a conceptual design for the commercial production of mixed rare earth oxides from coal-based resources in an environmentally benign fashion. “White Mesa Mill fits a unique role when it comes to dealing with rare earths feed.” Mark said.

In the interview, Mark commented on the announcement of the U.S. Department of Commerce’s deal to reduce Russian uranium imports over long-term. He also commented on how U.S. Presidential Election might affect the uranium industry. “Energy Fuels is in an excellent position when it comes to uranium, vanadium and rare earths to straddle whichever direction we need to go based on the changes in the government.” Mark added. Energy Fuels recently announced cash redemption of all outstanding debentures which will make the company debt-free on October 6, 2020. “Being debt free puts us in an outstanding position for any market for long time.” Mark said.

To watch the full interview, click here

To learn more about Energy Fuels Inc., click here

Disclaimer: Energy Fuels Inc. is an advertorial member of InvestorIntel Corp.

Lifton with Energy Fuels’ Moore on Trump and who has the largest uranium capacity in the US

“We have three production facilities. We have the White Mesa Mill in southeast Utah that is operating today…It has a capacity of producing 8 million pounds a year. We have an in-situ recovery (ISR) facility in Wyoming called the Nichols Ranch facility. It has a licensed capacity of 2 million pounds a year. Then we have Alta Mesa in-situ facility in South Texas which has produced about a million pounds per year. Nobody has as much capacity as we have…Uranium has not necessarily been on the government’s watchlist until recently. When President Trump came into office, he issued a critical minerals list and there was finally a recognition that uranium is critical not just for the US national security but also for US energy security. There were 35 minerals on that list including vanadium. We are one of the major producers of vanadium in the United States. So, two of the minerals on that list are produced by Energy Fuels.” States Curtis Moore, VP of Marketing and Corporate Development at Energy Fuels Inc. (NYSE American: UUUU | TSX: EFR), in an interview with InvestorIntel’s Jack Lifton.

Curtis went on to say that the US consumes about 47 million pounds of uranium per year but the country produced just 172,000 pounds of uranium last year which is not sufficient to supply even one nuclear reactor. Energy Fuels is the largest producer of uranium in the United States and has the only producing conventional uranium mill in the U.S. Curtis also said that the US imports close to 40% of its uranium from Kazakstan, Russia, and Uzbekistan which are geopolitical rivals of the country. Uranium price is about $25 per pound which below the cost of production of almost all of the US uranium producers. The heavily subsidized state-owned enterprises of Russia and China are flooding the market which is having an impact on the national security of the countries like the United States.

To access the complete interview, click here

Disclaimer: Energy Fuels Inc. is an advertorial member of InvestorIntel Corp.