Uranium miners advance as US pushes for enrichment contracts for HALEU

Denison Mines

10/01/2024 17:23

(Updates)
** Shares of uranium companies extend gains on Wednesday as U.S.
seeks bids from contractors to help establish a domestic supply
of uranium fuel enriched to higher levels
    ** U.S. Department of Energy on Tuesday said it has
about$500 mln in funding from the 2022 Inflation Reduction Act
for HALEU, or high assay low enriched uranium fuel
    ** Uranium prices  UXXc1  hit $94/lbs, highest since
2007-end
    ** U.S. companies Energy Fuels  UUUU.K , Uranium Energy
 UEC.N , Ur-Energy up between 1.7% and 2.6%
    ** Global X Uranium ETF  URA.P  and Sprott Physical Uranium
Trust  U_u.TO  climb ~2.7% each 
        ** Canadian uranium miners Denison Mines  DML.TO  and
Cameco  CCO.TO  up 1.9% and 2%, respectively 
  
        ** Centrus Energy  LEU.A , the only U.S. company with a
license to produce HALEU, up ~3.4%
  
    ** Shares of London-listed uranium fund Yellow Cake Plc
 YCA.L  hit record high on Tuesday and extended gains, rising
~4.1% to 668.50p on Wednesday
    

    

 (Reporting by Seher Dareen)
 ((Seher.Dareen@thomsonreuters.com;))