In the wake of a recent ban on Russian uranium imports by the United States, Reuters reports that the U.S. government is examining whether China is assisting Moscow by importing enriched uranium from Russia and exporting its production to the United States.
The ban was put in place in December by U.S. House lawmakers as part of the U.S.’s efforts disrupting Russian President Vladimir Putin from funding Russia’s war on Ukraine.
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Uranium spot price update
As of the time of this writing on Wednesday, the uranium spot price sits at US$79.50, up from $79.45 per pound from last week, according to Business Insider.
Uranium companies in the spotlight
Stallion Uranium (TSXV:STUD) has acquired 10 new uranium exploration dispositions, effectively expanding its land package in the southwestern region of the Athabasca Basin in Saskatchewan.
The company stated that new claims make up its Stone Island Project and span 9,993 hectares and borders the Western Athabasca Basin joint venture project between Stallion Uranium and Atha Energy.
Global Uranium (CSE:GURN) closed the acquisition of 100 per cent interest in federal unpatented lode mineral claims and Wyoming state mineral leases, spanning 5,040 acres.
Global Uranium first announced its intent to acquire the claims back in June.
“Securing these five projects in the uranium-rich region of Wyoming marks a significant milestone for our company, unlocking tremendous potential and reaffirming our commitment to sustainable energy development and identifying key uranium prospects in North America,” John Kim, CEO of Global Uranium, said at the time.
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