Laramide Applauds U.S. Administration Policy to Restore and Revitalize American Nuclear Energy Leadership Listed
Laramide Applauds U.S. Administration Policy
to Restore and Revitalize American Nuclear
Energy Leadership
Listed
(TSX:LAM; ASX:LAM)
TORONTO
,
May 1, 2020
/CNW/ -
Laramide notes that on
April 23, 2020
, the U.S Department of
Energy (DOE) released a report entitled "Restoring America's Competitive Nuclear Energy
Advantage – A strategy to assure U.S. National Security." This Report was prepared in response to
an initial industry call for action that commenced in early 2018 with a Section 232 Commerce
Department application, and resulted the following summer (
July 2019
) in President Trump
establishing the U.S. Nuclear Fuel Working Group (NFWG) to "examine the current state of domestic
nuclear fuel production to reinvigorate the entire nuclear fuel supply chain."
The DOE report is the culmination of that examination and includes recommendations with respect to
every aspect of American nuclear energy policy, but the most relevant points pertaining to the U.S
uranium mining industry include:
U.S. government purchases of 17-19 million pounds of U
3
O
8
, beginning in 2020 from domestic
producers based on a competitive bidding process;
Streamline regulatory reform and land access for uranium extraction;
Fund advanced water treatment technology for uranium mining and in situ recovery;
Support Department of Commerce efforts to extend the Russian Suspension Agreement to
protect against future uranium dumping in the U.S. market;
DOE will end the uranium bartering program and reevaluate DOE's Excess Uranium Inventory
Management Policy.
In Laramide's news release of
March 27, 2020
, the Company had previously commented on the
possibility of constructive policy developments specific to Laramide's U.S. domiciled assets, and the
strong public position now taken by the U.S. Administration is welcomed and applauded. Laramide
has been a long-standing member of a small industry trade group called The Uranium Producers of
America (UPA) and we thank them for their hard work and unwavering advocacy that helped to
deliver this result. They issued a news release last week that summarized it best, and stated, as
follows:
"The Uranium Producers of America (UPA) thank President Trump for his leadership in forming the
U.S. Nuclear Fuel Working Group (NFWG) and recognizing that the challenges facing the domestic
uranium industry are an issue of national security. We applaud the NFWG for recommending both
immediate and longer-term measures necessary to reinvigorate the domestic uranium mining and
conversion industries. The anti-free market tactics of state-backed uranium entities, including those
in
Russia
and in
China
, threaten America's national security and energy independence. We look
forward to working with the Administration and Congress to quickly implement these NFWG's
recommendations, prevent the collapse of the domestic uranium industry, and put the U.S. on a path
towards reclaiming its leadership in global nuclear markets."
In an separate development, the Company now confirms that it has released its 2019 annual
financial statements and related MD&A disclosure, and consequently insiders of Laramide are no
longer subject to the company's share trading and black-out policy.
To learn more about Laramide, please visit the Company's website at
www.laramide.com
.
Follow us on Twitter @LaramideRes
About Laramide Resources:
Laramide is a Canadian-based company with diversified uranium assets strategically positioned in
the United States
and
Australia
that have been chosen for their low-cost production
potential. Laramide's recently acquired Churchrock and
Crownpoint
properties form a leading In-Situ
Recovery (ISR) division that benefits from significant mineral resources and near-term development
potential. Additional U.S. assets include La Jara Mesa in
Grants, New Mexico
, and
La Sal
in the
Lisbon Valley district of
Utah
. The Company's Australian advanced stage
Westmoreland
is one of
the largest uranium projects currently held by a junior mining company. Laramide is listed on the
TSX: LAM and ASX: LAM.
Forward-looking Statements and Cautionary Language
This News Release contains forward-looking statements that are subject to a variety of risks and
uncertainties which could cause actual events or results to differ materially from those reflected in
the forward-looking statements. The Company does not intend to update this information and
disclaims any legal liability to the contrary.
SOURCE
Laramide Resources Ltd.
View original content:
http://www.newswire.ca/en/releases/archive/May2020/01/c3050.html
%SEDAR: 00003540E
For further information:
Marc Henderson, President and Chief Executive Officer, Toronto, Canada,
+1 (416) 599 7363, Email: [email protected]
CO: Laramide Resources Ltd.
CNW 07:30e 01-MAY-20