US Dept. of Commerce launches investigation of uranium imports

If the U.S. Trump administration extends its trade war to uranium it would be bullish for equities with U.S.-based assets, Haywood Securities commented in a uranium sector update. U.S. Commerce Secretary Wilbur Ross’s announcement yesterday that he is starting an investigation into whether Washington should impose quotas to restrict uranium imports for reasons of national security drove up the shares of uranium companies with assets in the U.S. Shares of Laramide Resources (TSX: LAM) jumped 5.66% to 28¢, while Ur-Energy (TSX: URE) rose 4.55% to 92¢ and Energy Fuels (TSX: EFR) climbed 1.32% to $3.08. “If the government were to mandate that 25% of its nuclear fuel be sourced domestically, this would require an incremental increase of about 10 million lbs U₃O₈, which could slow global inventory attrition in the absence of a matching supply curtailment,” Haywood analyst Colin Healey states in a research note. Continue reading at The Northern Miner.