Establishment of National Uranium Reserve Key to Support National Security, Secure Supply Chains
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The National Mining Association (NMA) today applauded recommendations from the Nuclear Fuel Working Group, which included important steps to restore American nuclear energy leadership.
“Energy security and national security concerns have been repeatedly raised around our staggering import reliance for uranium. Now more than ever — when we are seeing the fragile nature of global supply chains assumed to be unshakable for so long – the establishment of a national uranium reserve is an important first step to secure our domestic supply chain,” said Rich Nolan, NMA president and CEO. “Domestic uranium production is teetering on the edge of disappearing, with less than five percent of our needs being met domestically. Our mineral import reliance for uranium and other minerals should be alarming to all Americans, especially when the U.S. is home to ample resources, stringent environmental protections, and the most advanced mining technologies and best practices in the world.”
For years NMA has been sounding the alarm on the United States’ increased reliance on foreign sources of uranium as well as domestic policies that hinder development of U.S. projects.
The current state of the domestic uranium mining industry is not a product of foreign competition legitimately underpricing domestic producers. Rather, foreign, state-mandated production is thwarting domestic producers’ ability to compete on a level playing field. As such, NMA supported the Department of Commerce’s investigation under Section 232 of the Trade Expansion Act of 1962 and the subsequent establishment of the Nuclear Fuel Working Group to reinvigorate the nuclear fuel supply chain starting with the domestic uranium mining industry.
The working group’s recommendations — particularly those related to the establishment of a uranium reserve, an end to the Department of Energy’s bartering of uranium and reducing regulatory burdens for uranium mining — represent a common-sense strategy to address the national security implications of our reliance on foreign imports.
About National Mining Association
The National Mining Association (NMA) is U.S. mining’s advocate in Washington, D.C. and beyond. NMA is the only national trade organization that represents the interests of mining before Congress, the administration, federal agencies, the judiciary and the media — providing a clear voice for U.S. mining. NMA’s mission is to build support for public policies that will help America fully and responsibly utilize its coal and mineral resources.
Headquartered in Washington, D.C., NMA has a membership of more than 250 corporations and organizations involved in various aspects of mining. NMA provides a forum for these diverse industry segments to be informed, heard and represented.
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