Gold Bars Are Pouring, but This Miner is Still Priced Like a Startup

You'd expect a gold miner with production, a full refinery, and big-name investors to be trading at a premium. But this one? It's still under $1

As US ramps up nuclear power, fuel supplier plans to enrich more uranium domestically

JONATHAN MATTISE
November 20, 2024

OAK RIDGE, Tenn. (AP) -- A supplier of fuel for nuclear power plants announced a $60 million expansion in Tennessee on Wednesday, promising to resume and grow its manufacturing of high-tech centrifuges there to enrich uranium at its facility in Ohio.

The expansion by Centrus Energy at its massive facility in Oak Ridge comes as the U.S. ramps up its reliance on nuclear power as a climate change solution. The Tennessee facility, which stretches 440,000 square feet, is where they make and test 40-foot-high centrifuges that will be transported to the company's enrichment facility in Piketon, Ohio. The company gave reporters a tour Wednesday, showing off the centrifuges but covering other classified equipment with tarps.

Centrus is one of several companies working on enriching uranium in the U.S., which is currently dependent on foreign providers. Russia has about 44% of the world's uranium enrichment capacity, supplying some 35% of U.S. imports for nuclear fuel, according to the Department of Energy. Just last week, Russia announced it would temporarily limit its exports of enriched uranium to the U.S. in response to the U.S. deciding to ban Russian uranium starting in 2028.

Western nuclear operators have been looking for suppliers of nuclear fuel other than Russia since it invaded Ukraine in 2022, S&P Global Commodity Insights said Wednesday.

Centrus President and CEO Amir Vexler told reporters Wednesday that the expansion was not due to Russia's decision-making, saying that the company's board approved the plans a few weeks ago. But he said the move illustrates why the U.S. can't depend on other countries for its nuclear fuel.

"Nuclear is one of the key essential stabilizers in our sources on the grid. And nuclear fuel is a key essential element of that," Vexler said. "Why would you not worry about the security of supply of that key ingredient to our grid?"

The company partners with the nearby Oak Ridge National Laboratory, known for its role as one of the labs that helped develop the atomic bomb. Centrus is expanding in hopes of tapping into a fund of $3.4 billion from the Department of Energy set aside for domestic uranium enrichment. Headquartered in Bethesda, Maryland, the company currently has about 300 employees, including about 120 in Oak Ridge. The expansion could add 300 more in Oak Ridge.

In the same city, another company, Orano USA, plans to build a uranium enrichment facility.

The Biden administration set a target this month of at least tripling nuclear power in the United States by 2050 to help avoid the worst consequences of climate change. The United States will aim to add 200 gigawatts of new nuclear energy capacity, according to the administration's new strategy. One gigawatt can power roughly 750,000 to 1 million homes for a year, though the exact amount varies by region and depends on energy use.

The United States currently has 94 operating reactors that produce power without emitting planet-warming greenhouse gases. Nuclear power has provided about one-fifth of the nation's electricity since the 1990s.

Among the steps to expand nuclear power, the strategy recommends building large gigawatt-scale reactors, constructing small modular reactors and microreactors, extending the lifespan of some existing reactors and working to restart ones that retired for economic reasons. It also recommends improving licensing and developing the nuclear workforce.

President-elect Donald Trump has said he is also interested in developing the next generation of nuclear reactors that are smaller than traditional reactors.

For a company like Centrus, the business strategy includes producing uranium enriched to levels that are standard in the nuclear power plants operating today, plus at a higher level for the type of commercial small reactors that are being developed in the U.S., though none are under construction yet. Centrus' subsidiary, American Centrifuge Operating, was one of four companies awarded a Department of Energy contract aimed at growing the higher-level uranium enrichment.

Some advocates have raised concerns about the more highly enriched uranium.

Edwin Lyman, the director of nuclear power at the Union of Concerned Scientists, said his group thinks the uranium is enriched enough in the process to make nuclear weapons, and worries about the security of keeping the material from getting into the wrong hands either at enrichment facilities, en route elsewhere or at some of the small reactors still in the works.

"The concern is that we believe that this material is more dangerous than is currently widely accepted," Lyman said.

Asked about those kind of concerns, Vexler praised the U.S. Nuclear Regulatory Commission as "the best regulator in the business," saying regulators ensure the material is safeguarded properly.

___

Associated Press writer Jennifer McDermott contributed from Providence, Rhode Island.

Continue Reading...

Popular

Trump administration and private investors sign off on $1.4 billion deal with rare earth startups

WASHINGTON (AP) — The Trump administration and private investors are partnering with two rare earth startups in a $1.4 billion deal to scale up the nation's access to materials and technology that is crucial for producing an array of high-tech goods and military equipment.

DraftKings, Flutter Stocks Downgraded On Prediction Market Risk: 'Relentless Headwinds'

The rise of prediction markets could lower market share and growth for sports betting stocks. An analyst downgraded both DraftKings and Flutter.

From Ore to Gold Bars-This Nevada Mine Is Already Producing - Ad

Most juniors explore...Few actually produce. This one's already pouring gold thanks to infrastructure that would cost tens of millions to build today. With major land holdings and room to scale, it's one to watch.

Why Is Phio Pharmaceuticals Stock Soaring Today?

Shares of Phio Pharmaceuticals Corp. (NASDAQ: PHIO) are rising Monday after the company provided an update on an ongoing medical trial.

Pete Hegseth Says War Department Preparing For 'Action' In Nigeria

U.S. Defense Secretary Hegseth agrees with Trump's order to prepare for action in Nigeria to stop the killing of Christians by Islamist militants.

Quiet Early Access Invite - Ad

We are sharing a small preview of a Quebec copper discovery with funded drilling and catalysts on deck. You will see the plan, targets, and milestones that could drive repricing as assays arrive. Early access is limited.

Trump's $300 Million White House Ballroom Could Soon Bear A Very Familiar Name

President Donald Trump is reportedly planning to name his new $300 million White House ballroom after himself.

The Tesla Shock Nobody Sees Coming - Ad

While headlines scream "Tesla is doomed"...Jeff Brown has uncovered a revolutionary AI breakthrough buried inside Tesla's labs. One that is helping AI escape from our computer screens and manifest itself here in the real world all while creating a 25,000% growth market explosion starting as early as January 29.

Trump White House Clamps Down on Press Access

White House restricts reporter access to West Wing Room 140; NSC cites sensitive material, echoing Pentagon curbs, raising press concerns.

Cathie Wood Dumps $3.7 Million Of Palantir Stock Despite AI Boom — Here's What She's Buying Instead

Ark Invest boosted positions in Qualcomm and BYD, while trimming Palantir and Shopify. Ark also acquired shares of China's BYD despite recent recall.

Urgent Copper Stock With Strong Catalysts - Ad

Quebec discovery. Strong grades. Roads and hydro in place. Funding secured for a busy drill calendar. Each assay can build scale and tighten the window for early entries as EVs and data centers pull harder on copper. Do not wait.

Shaquille O'Neal's $180,000 Range Rover Stolen in Suspected Hacker Heist

The custom Range Rover belonging to Shaquille O'Neal has been stolen, reportedly due to a cyber attack.

Terns Pharmaceuticals' Leukemia Drug Seen As Potential Disruptor In CML Treatment Landscape, Analyst Upgrades

Terns Pharmaceuticals shares rise after TERN-701 shows a 75% response rate in the CML trial, and William Blair upgrades the stock to Outperform.

White House Insider: I've Never Shared This Story Before... - Ad

A former CIA officer with direct ties to Trump's inner circle just revealed a shocking truth about the AI arms race. This insider says Trump is about to unleash a bold move to ensure America doesn't lose - and the opportunity tied to it could be massive.

Tanka Bets Its Memory-Native AI Platform Can Redefine How Startups Collaborate and Scale

Tanka, a U.S.-based AI collaboration platform headquatered in Bay Area, is betting on its home market with a bold premise — that the future of enterprise software will depend not on bigger models or flashier chatbots, but on memory. 

The Smart Money Copper Trade - Ad

Pros front run catalysts. This project checks grade, jurisdiction, and runway. Polymetallic upside, expanding footprint, and steady results can attract institutions fast as copper tightens. Study this trade idea while the story is still early.

ON Semiconductor, Williams Companies And 3 Stocks To Watch Heading Into Monday

Key stocks to watch include Williams Companies, Spirit AeroSystems, Goodyear Tire & Rubber, IDEXX Laboratories, and ON Semiconductor

Out of 3,412 Juniors This Is the One - Ad

Only one lines up grade, scale potential, and Quebec power like this. Insider alignment is real. Stepouts are opening new zones. With EVs and grid buildouts rising, this could be the timely copper idea you have been waiting for.

Elon Musk's SpaceX Shakes Up Bitcoin Market With $133 Million Transfer

SpaceX, the space exploration company led by Elon Musk, has reportedly transferred over $133 million in Bitcoin (CRYPTO: BTC), causing a stir in the cryptocurrency market.

New Number One Copper Start Alert - Ad

EVs and AI devour copper. Supply cannot keep up. A Quebec discovery with high grade, infrastructure, and cheap power is funded to drill through the year. Catalysts are lining up. Institutions are circling. Move now while it is still early.

Cathie Wood Bets Big On Jack Dorsey's Bitcoin-Heavy Block, Adds Amazon And Alibaba — Sells Shopify, Surging Palantir

On Monday, Cathie Wood-led Ark Invest executed significant trades, including a notable purchase of shares in Amazon.com Inc. (NASDAQ:AMZN), Block Inc.

Edmunds compares the new BMW X3 and Mercedes-Benz GLC

Compact luxury crossovers are ideal if you’re seeking a compelling blend of utility and style without having to pay full-size luxury SUV pricing. The has been a front-runner since the original model’s introduction in 2003, but it continues to face stiff competition from the .

"Tech Prophet" Who Predicted the iPhone Now Predicts... - Ad

George Gilder - who predicted the iPhone 17 years early and gave Reagan the first microchip - is making his boldest call yet. He says an American nanotech "super-convergence" could mint more millionaires than any event in recent memory. He's found 3 stocks set to benefit before November 18's bombshell.

Gold Bars Are Pouring, but This Miner is Still Priced Like a Startup - Ad

You'd expect a gold miner with production, a full refinery, and big-name investors to be trading at a premium. But this one? It's still under $1

Trump Says He Knows 'Very Little' About 'Huge' Crypto Industry, But Glad His Sons Are Involved

President Donald Trump expressed strong support for the cryptocurrency industry in an interview aired Sunday, stating that under his administration, the U.S. has emerged as the global leader in the sector.

IonQ Shares Are Trading Lower Monday: What's Going On?

IonQ shares were trading higher Monday but have since reversed and began trading lower.

From Ore to Gold Bars-This Nevada Mine Is Already Producing - Ad

Most juniors explore...Few actually produce. This one's already pouring gold thanks to infrastructure that would cost tens of millions to build today. With major land holdings and room to scale, it's one to watch.

OpenAI's ChatGPT To Allow Erotica For Adults: Not 'Moral Police Of The World,' Sam Altman Says

OpenAI will begin allowing erotica and adult-themed content on ChatGPT, marking a major shift in the company's content policy.

Verizon To Build New Fiber Network For Amazon's Expanding AI Data Centers

Verizon and Amazon partner to combine 5G network with AWS's cloud services, expanding and scaling secure AI applications.

Quiet Early Access Invite - Ad

We are sharing a small preview of a Quebec copper discovery with funded drilling and catalysts on deck. You will see the plan, targets, and milestones that could drive repricing as assays arrive. Early access is limited.

The Tesla Shock Nobody Sees Coming - Ad

While headlines scream "Tesla is doomed"...Jeff Brown has uncovered a revolutionary AI breakthrough buried inside Tesla's labs. One that is helping AI escape from our computer screens and manifest itself here in the real world all while creating a 25,000% growth market explosion starting as early as January 29.

Trending Now

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.

Copyright trendadvisor.net
Privacy Policy | Terms of Service