Uranium Energy (NYSE American: UEC), a U.S.-based uranium mining and exploration company, has reported that Scott Melbye, UEC’s vice president and current president of the Uranium Producers of America, testified during a recent hearing for the U.S. Senate Committee on Energy & Natural Resources. The hearing was on March 25, 2021. During the hearing, Melbye noted his 36 years of experience in every facet of the international nuclear fuel cycle, from production and global marketing of uranium to its use as clean-energy fuel. He observed that nuclear is currently providing electricity to one in five American homes and provides more than half of the country’s carbon-free power. Melbye urged committee members to re-establish the global nuclear leadership of the United States and its robust nuclear fuel cycle, which has been eroded by Russia, China and state-owned uranium entities in recent years. He outlined key reasons why America is close to losing its uranium fuel industrial base and observed that the United States has more than one billion pounds of uranium in known and likely deposits throughout the country. “Congress recently appropriated $75 million for the uranium reserve on a bipartisan basis and with the support of nuclear utilities,” said UEC vice president Scott Melbye during the hearing. “It is crucial the Department move quickly to begin purchasing uranium this year. This will preserve the industrial base, guard against global supply disruptions, and create a source of U.S.-origin uranium for defense needs. We urge Congress to grant the full funding recommended over the next ten years by the interagency Nuclear Fuel Working Group led by the Department of Energy. 150 million dollars a year is a modest investment considering it will preserve the nuclear fuel cycle in the U.S. instead of ceding it to Russia, China, and their allies.”
To view the full testimony, visit https://ibn.fm/uyvdz
To view the full press release, visit https://ibn.fm/iXYLB
About Uranium Energy Corp.
Uranium Energy is a U.S.-based uranium mining and exploration company. In South Texas, the company’s hub-and-spoke operations are anchored by the fully licensed Hobson Processing Facility, which is central to the Palangana, Burke Hollow and Goliad ISR projects. In Wyoming, UEC controls the Reno Creek project, which is the largest permitted, pre-construction ISR uranium project in the U.S. Additionally, the company controls a pipeline of uranium projects in Arizona, New Mexico and Paraguay, a uranium/vanadium project in Colorado and a large, high-grade ferro-titanium project in Paraguay. The company’s operations are managed by professionals with a recognized profile for excellence in their industry, a profile based on many decades of hands-on experience in the key facets of uranium exploration, development and mining. For more information about the company, please visit www.UraniumEnergy.com.
NOTE TO INVESTORS: The latest news and updates relating to UEC are available in the company’s newsroom at https://ibn.fm/UEC
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