U.S. Department of Energy executive tells StockInterview.com about the government's proposed plan to sell uranium from federal inventory during 2007.
Sarasota, FL (PRWEB) May 8, 2007 -- Ed Rutkowski of the U.S. Department of Energy's Nuclear Fuel Supply Security group told StockInterview.com the United States Government may have a uranium sale in 2007. Rutkowski said it would be for a 'very small' amount of U3O8 equivalent.
According to Rutkowski, should the uranium sale occur it would be well under the quantity in DOE's proposed long-term uranium sales strategy. He said it would probably take place this summer. The proposed sales strategy suggested an annual sale of no more than 10 percent of the U.S. uranium requirements.
The extra-tight nuclear fuel supply picture, which has sent the price of spot uranium higher by 1775 percent over the past six years, could suddenly make uranium oxide, also known by uranium miners as yellowcake, harder to come by. Many industry experts and U.S. utilities were counting on the U.S. Department of Energy (DOE) to release up to five million pounds of U3O8 from federal stockpiles this summer.
Will the DOE also create strategic uranium reserves to safeguard utilities?
"Come 2013, 10 to 12 million pounds of U3O8 equivalent delivered to the U.S. under the HEU agreement will start to go away," Rutkowski warned. "Domestic uranium production must continue to increase to meet this supply."
Rutkowski explained, "We have concerns about U.S. supply assurance, one that is reliable and can be expanded." He pointed out, "Utilities need to be assured that they can build new plants and they can get new uranium for those plants."
The entire interview may be read at http://www.stockinterview.com
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