Centrus Energy is making a significant investment in the U. S. nuclear fuel industry to enhance domestic uranium enrichment capabilities.
• Centrus will invest $560 million into its centrifuge production facility in Oak Ridge, Tennessee, utilizing part of a $900 million funding award from the Department of Energy (DOE).
• The goal is to increase production rates and address the shortage of domestic uranium enrichment services, with plans to have new centrifuge cascades operational by 2029.
• This project is expected to create over 400 jobs in Oak Ridge and is likely one of several similar initiatives.
• The U. S. currently relies on imports for over 99% of its raw uranium and 75% of its enrichment services, primarily from Canada, Kazakhstan, Russia, and Europe.
• Recent geopolitical tensions, particularly the Ukraine-Russia war, have significantly increased uranium prices.
• Centrus (ticker LEU) is heavily shorted on the stock market, and a potential short squeeze is anticipated.
Centrus Energy's investment is a crucial step toward securing a reliable domestic nuclear fuel supply and enhancing job creation in the region.
https://www.zerohedge.com/energy/centrus-invest-560-million-high-rate-manufacturing-plan
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