What Will be the Outcome of Section 232 Petition?
- Monday, July 1st, 2019
Section 232 of the Trade Expansion Act of 1962 or commonly referred to as “s232” has been under investigation over the past 18 months. The DOC provided its recommendation to the White House in April of this year and a final decision will be made by President Trump by July 13, 2019.
To give some background, in January 2018, a Section 232 Petition was filed by Energy Fuels and Ur Energy. The two US-based uranium companies believe that that US nuclear and uranium industries are in crisis because of the unfairly state-subsidized U3O8 imports from foreign producers. The two companies seek a mandated requirement that US utilities purchase a minimum 25% of their uranium requirements from US producers.
A positive reply from President Trump could really ignite the US uranium industry and allow North America to take the lead as the top producers of this highly-used commodity.