- World Nuclear Association notes that new nuclear builds offer advantages that extend beyond simply being clean, reliable source of energy
- With growing demand for carbon-free energy production, growing reliance on nuclear seems certain
- Uranium, the fuel most widely used to power nuclear plants, will become an increasingly vital mineral
While COVID-19 still looms as a potential threat in parts of the world, some positive signs indicate that the worst might be over. In its “World Nuclear Performance Report 2020,” the World Nuclear Association noted that, in a post-pandemic world, new nuclear builds offer advantages that extend beyond simply being a clean, reliable source of energy. Uranium Energy (NYSE American: UEC) stands ready to support and contribute to growth in the nuclear energy space.
“In 2020 the nuclear industry has been an essential part of the response to the coronavirus pandemic,” writes World Nuclear Association director general Agneta Rising in the preface to the report. “Despite the challenges of working in COVID-safe conditions, nuclear operators have ensured reactors have been available to provide electricity and grid stability. Reactor operators have also had to respond to the marked reductions in demand that have been observed during the pandemic and have had to operate with more flexibility. . . .
“Looking forward, governments are considering at how to restart their economies and generate jobs, as well as how to meet their energy and environmental goals,” Rising continues. “Each new nuclear build project generates thousands of jobs and boosts the local economy, as well as contributes to our harmony goal of a clean and reliable electricity mix.”
The performance report (https://nnw.fm/milJI) noted that electricity generated from the world’s nuclear reactors increased for the seventh consecutive year in 2019, reaching the second highest output ever. With a growing demand for carbon-free energy production and the safe, clean and highly reliable energy that nuclear power provides (https://nnw.fm/9wZBz), new nuclear builds seem certain.
With those new builds will come a greater need for uranium, the fuel used to power nuclear plants. Uranium Energy Corp, a U.S.-based uranium mining and exploration company, is poised to benefit from the increased demand projected for uranium. The company has fully licensed projects in Texas and Wyoming with a production profile of 4 million pounds per year, enough to power about eight of America’s 93 commercial reactors. UEC has a solid balance sheet with over $110 million in cash, equity and inventory holdings. They control one of the largest databases of historic uranium exploration and development in the United States, an invaluable resource as the company has been able to identify potential acquisition properties that have already been the subject of significant exploration and development in the past.
UEC is positioned as the leader in U.S. low-cost, environmentally friendly and fully permitted In-Situ Recovery (“ISR”) projects (https://nnw.fm/HxXhW). Their Burke Hollow project’s initial production area is amongst the largest uranium ISR wellfields ever developed in the 45-year history of uranium mining in South Texas. The low-impact ISR method of uranium recovery being developed at Burke Hollow is the most environmentally friendly way to mine uranium which is now responsible for approximately 50% of global production (https://nnw.fm/ZfVjN).
Founded in 2003, UEC is headquartered in Corpus Christi, Texas. Properties acquired by the company are primarily located within the United States, including Texas, New Mexico, Colorado, Arizona and Wyoming. In addition, the company is aggressively pursuing other key developmental targets. UEC is investing to be a next-generation uranium producer, and is committed to providing low-cost, low-capital fuel for the country’s large electricity-generating nuclear fleet.
For more information, visit the company’s website at www.UraniumEnergy.com.
NOTE TO INVESTORS: The latest news and updates relating to UEC are available in the company’s newsroom at https://nnw.fm/UEC
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