Following the recent imposition of a ban on Russian uranium imports by the United States, a report from Reuters indicates that the U.S. government is investigating potential assistance from China to Moscow. This assistance involves the import of enriched uranium from Russia by China and the subsequent export of its production to the United States.
The ban was implemented by U.S. House lawmakers in December as part of efforts to disrupt Russian President Vladimir Putin’s funding of Russia’s war on Ukraine.
Regarding the current uranium spot price, as of Wednesday, it stands at US$79.50 per pound, showing a slight increase from the previous week’s price of $79.45 per pound, as reported by Business Insider.
In the uranium sector, there have been notable developments with companies such as Stallion Uranium and Global Uranium. Stallion Uranium has expanded its land package in the southwestern region of the Athabasca Basin in Saskatchewan by acquiring new uranium exploration dispositions for its Stone Island Project. These acquisitions, totaling 9,993 hectares, border the Western Athabasca Basin joint venture project between Stallion Uranium and Atha Energy.
On the other hand, Global Uranium completed the acquisition of 100% interest in federal unpatented lode mineral claims and Wyoming state mineral leases spanning 5,040 acres. This acquisition signifies a significant milestone for Global Uranium, positioning the company to explore key uranium prospects in North America.
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