The uranium industry is buoyed by its highest metal price in 17 years, pro-active government policies and improved public sentiment, yet it faces headwinds, panellists said at The Northern Miner’s Energy Transition Metals Summit in Washington, D.C.
“It’s a two-edged sword, positive and negative,” John Cash, chairman and CEO of Ur-Energy (TSX: URE; NYSE-MKT: URG), said during the April 30 session. “There are a lot of challenges out there right now facing the industry as far as ramping up production: labour shortages, supply chain, geopolitics, the weather.”
The Role of Uranium in the Energy Transition panel was moderated by David Talbot, head of research and managing director at Toronto-based Red Cloud Securities. Scott Melbye, executive vice-president at Uranium Energy (NYSE-AM: UEC), spoke of the need for 10 new mines around the world by 2030 to fill demand.
Paul Goranson, CEO of enCore Energy (TSXV: EU; NASDAQ: EU), said he sees fuel security concerns driving United States government support for the industry, which benefits from bipartisan support for the first time in decades.
The summit was run in coordination with Precious Metals Summit Conferences. Watch the full uranium discussion below.
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