Uranium miners rise after Biden signs into law ban on Russian imports

Uranium Energy

14/05/2024 18:22

(Updates shares)
    ** Shares of North American uranium companies rise after US
President Joe Biden signs into law a ban on Russian-enriched
uranium
    ** The ban on imports of fuel for nuclear power plants
begins in about 90 days but will allow the Department of Energy
to issue waivers in case of supply concerns
    ** Energy Fuels  UUUU.A  and Uranium Energy  UEC.A  rise
1.2% and 0.6%, respectively
    ** Shares of Canadian firms Uranium Royalty  URC.TO  and
Cameco  CCO.TO  gain 2% and 1.8% each
    ** Global X Uranium ETF  URA.P  up ~0.8%
    ** "The ban on Russian imports should continue to support
the expansion of capacity in Western uranium enrichment" - John
Meyer, SP Angel analyst
        
  

 (Reporting by Vallari Srivastava and Seher Dareen in Bengaluru)
 ((Srivastava.Vallari@thomsonreuters.com;))