SLX 6.21% $5.13 silex systems limited

Commerce reaches deal with Russia to cut uranium exports to U.S....

  1. 20,094 Posts.
    lightbulb Created with Sketch. 1773
    Commerce reaches deal with Russia to cut uranium exports to U.S. market
    Energy Daily

    September 15, 2020 | BY GEORGE LOBSENZ

    The Commerce Department Saturday announced a draft 20-year agreement with the Russian government that significantly ratchets down uranium exports to the U.S. market, with the agency saying the deal addresses concerns expressed by uranium producers and the operator of the nation’s sole uranium enrichment plant that a flood of cheap Russian product is suppressing domestic uranium prices.
    With the U.S. uranium industry saying it is on the financial ropes due to low-priced imports from multiple countries, the new deal reduces a limit on Russian imports set in a 1992 agreement under which Commerce suspended an investigation into Russia’s alleged dumping of uranium into the U.S. market at below-cost prices.
    While the current “suspension” agreement limits Russian imports to about 20 percent of U.S. demand for low-enriched uranium (LEU)—which is used as fuel for commercial power reactors—the new deal amends the agreement to limit Russia’s share of the U.S. LEU market to an average of 17 percent over the next 20 years, according to Commerce.
    Russian imports would be limited to 24 percent of U.S. LEU demand in 2021 and—after some fluctuation in the two following years—would fall to 20 percent in 2024 and then to 15 percent in 2028 and the remaining years of the agreement, the agency said.
    Further, Commerce said the draft deal would “establish unprecedented protections” for U.S. miners and the nation’s sole remaining uranium conversion plant—Honeywell’s Metropolis plant in Illinois, which processes natural uranium into LEU feedstock—by reducing the portion of the import quotas that can be used for natural uranium concentrates and the conversion components of LEU.
    Under the current agreement, Russia can use its import quota not only for the enrichment component of LEU, but also the natural uranium concentrates and conversion components of LEU. However, the amended agreement would reduce the portion of the import quota that can be used for the sale of the natural uranium components from approximately 7 percent of U.S. enrichment demand to no higher than 5 percent starting in 2026.
    The import quotas in the current suspension agreement were set in a 2008 deal with Russia that expires this year. Without an extension agreement, Commerce could restart
    its investigation into Russian uranium dumping in the U.S. market, but Russia would no longer have any import limits.
    “This draft agreement represents an important step forward for the American nuclear industry,” said Commerce Secretary Wilbur Ross in a statement Saturday. “If finalized, it will contribute to the restoration of America’s nuclear energy advantage and protect the domestic industry from dumped Russian uranium.”



    NTH_Commerce-reaches-deal-with-Russia-to-cut-uranium-exports-to-U.pdf
 
watchlist Created with Sketch. Add SLX (ASX) to my watchlist
(20min delay)
Last
$5.13
Change
0.300(6.21%)
Mkt cap ! $1.212B
Open High Low Value Volume
$4.89 $5.14 $4.85 $6.019M 1.195M

Buyers (Bids)

No. Vol. Price($)
1 283 $5.12
 

Sellers (Offers)

Price($) Vol. No.
$5.13 32506 1
View Market Depth
Last trade - 16.10pm 28/03/2024 (20 minute delay) ?
Last
$5.08
  Change
0.300 ( 5.51 %)
Open High Low Volume
$4.91 $5.13 $4.85 128561
Last updated 15.59pm 28/03/2024 ?
SLX (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.