According to Reuters: U.S. uranium enrichment capability has dwindled to nothing in recent decades as it leaned on other countries to supply the fuel.
The USA is desperate to secure domestic energy sources, and not rely on other countries such as Russia and China, specifically for uranium enrichment capabilities.
Russia controls ~38% of the world’s enrichment capacity. China controls ~25%.
The US is most vulnerable to supply chain shocks in the uranium industry because it has the world's largest nuclear reactor fleet - nuclear power accounts for ~20% of electricity production in the US.
The USA has recently introduced several bills and significant funding to support its nuclear industry by securing uranium and uranium enrichment capability domestically.
We believe this will drive significant demand, investor attention and financing to uranium companies with USA based projects plus enrichment capabilities.