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Uranerz Energy: Strategic Uranium Position In Wyoming

  Broadcast in Business

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The U.S. is the largest consumer of uranium of over 55 million pounds annually.  Over 104 nuclear reactors are operating.  Currently domestic mining and production of uranium in the U.S. is around 4 million pounds.  That means the U.S. relies on imports for more than 92% of its uranium consumption to keep these plants running.  This is a far cry from energy independence and makes savvy investors realize that in today's world of rising geopolitical turbulence, the importance of safe and secure uranium supplies.  In addition, a large part of the supply of uranium comes from the nuclear missiles from Russia.  This agreement is about to expire at the end of 2013.  This is about 24 million pounds annually which will no longer be supplied by the Russians.  Uranium investors are anticipating a stronger market for uranium into the second half of 2013 as the Russia-US agreement expires and as the Japanese turn the nuclear reactors that they shut down in 2011 due to the Fukuskima disaster, back on this summer.  Uranerz is planning to start producing uranium at the end of this year.  The company has contracts with major U.S. utilities to sell uranium at much higher uranium prices.  This gives the company some certainty that there will be some positive cash flow as they move into production.  Uranerz has an enviable and strategic position in the Powder River Basin in Wyoming which hosts the largest producing uranium mine in the U.S.A.  Cameco, the largest publicly trade uranium miners, is expanding production to the north and south of Uranerz and already has a processing agreement with Cameco to process the uranium.  
 
Disclosure: Author and Interviewer owns Uranerz and the company is a sponsor of website.
Tags:
uranium mining
Uranerz Energy URZ
Nuclear Power
United States
Powder River Basin Wyoming
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