Uranium miners fall as Trump imposes tariffs

Ur-Energy

03/02/2025 11:21

** U.S.-listed shares of uranium companies fall as U.S.
President Donald Trump orders sweeping tariffs on goods from
Mexico, Canada and China
    ** Tariffs will take effect on Feb. 4 and includes a 25%
levy on most goods from Mexico and Canada, 10% tariff on energy
imports from Canada and a 10% tariff on Chinese imports
    ** Canada is the world's second-largest producer of uranium
after Russia and about 85% of its production is exported
    ** Canada provided 27% of uranium to U.S. utilities in 2023,
according to the U.S. Energy Information Administration (EIA)
    ** Shares of Uranium Energy  UEC.A  fall 1.8%, Energy Fuels
 UUUU.A  fall 2.1% and Ur-Energy  URG.A  fall 1.9%
    ** U.S.-listed shares of Canadian miners NexGen Energy
 NXE.N  down 1.8%, Cameco  CCJ.N  down 4.2% and Denison Mines
 DNN.N  down 4.4%

 (Reporting by Pooja Menon in Bengaluru)
 ((Pooja.Menon@thomsonreuters.com;))