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HomeNews U.S. Dept of Energy To Sell Excess Uranium
U.S. Dept of Energy To Sell Excess Uranium
In a move intended to cut federal spending and benefit U.S. taxpayers, the U.S. Department of Energy on December 16 released a plan to sell off its excess inventory of uranium. According to the agency, "The Department of Energy has a significant inventory of uranium that is excess to United States defense needs. This inventory is expensive to manage and to secure..."
Powertech Uranium Corp., along with other Canadian and U.S. firms, has been attempting to dissuade the DOE from disposing of this uranium because it will push down prices for the radioactive metal. They argue that the U.S. uranium mining industry could be hurt by the DOE sales and that a weakened mining industry would compromise U.S energy security.