Two Colorado uranium companies are jointly asking President Trump to help the U.S. uranium mining industry.
In a joint letter yesterday to the U.S. Commerce Dept., Energy Fuels Inc. (NYSE: UUUU) of Lakewood and Ur-Energy Inc. (NYSE: URG) of Littleton said that they want protection from "imports of uranium products that threaten national security."
The companies said they're worried that the U.S. currently gets 40 percent of its uranium from Russia, Kazakhstan, and Uzbekistan and only 5 percent from domestic production, with additional foreign imports from Russia and China expected in the future.
"A healthy uranium mining industry is vital to U.S. national security, because it supplies fuel for nuclear power plants that are a key component of the nation's critical energy infrastructure and essential defense needs," the two companies wrote, adding that they supplied more than half of the U.S.'s 2017 domestic uranium production.
Read more at the Denver Business Journal: http://bit.ly/2B9OwAJ
