Atomic Minerals Corporation commends the recently announced supplemental Continuing Resolution (“CR”) Appropriations Issues request by the White House aimed at reducing reliance on Russian nuclear fuels.
On September 2, President Biden made the supplemental CR appropriations request to the US Congress for the Department of Energy on a continuing resolution that included a $1.5 billion for the Department of Energy for the acquisition and distribution of low-enriched uranium (“LEU”) and high-assay low enriched uranium (“HALEU”) and other activities pursuant to the Atomic Energy Act of 1954.
This request will provide the funds to the Department of Energy, Nuclear Energy account, to assist in establishing a reliable fuel supply to rapidly meet the low-enriched uranium demand of the existing commercial nuclear fleet and the high-assay low-enriched uranium needs for advanced nuclear reactors. Funding would be used to address present and future shortfalls in domestic uranium supply.
Clive Massey, Atomic Minerals CEO and President commented, “I’m very pleased that President Biden has recognized that in 2021, Russia provided US nuclear utilities with 14 percent of their uranium purchases and 28 percent of their enrichment services, when the US has enough untapped uranium in the ground to supply Department of Energy and nuclear utilities.”
According to the U.S. Energy Information Administration, at the end of 2021, there were 93 operating commercial nuclear reactors at 55 nuclear power plants in 28 states with a combined generating capacity of approximately 95,492 MW. From 2013 through 2019, annual nuclear generating capacity and the generating of electricity increased each year (except in 2017) even as the number of operating reactors declined.
Today there are about 440 nuclear power reactors operating in 32 countries plus Taiwan, with a combined capacity of about 390 GWe. In 2021 these provided 2653 TWh, about 10% of the world’s electricity. About 55 power reactors are currently being constructed in 15 countries, notably China, India, Russia and the United Arab Emirates. About 90 power reactors with a total gross capacity of about 90,000 MWe are on order or planned, and over 300 more are proposed. Most reactors currently planned are in Asia, with fast-growing economies and rapidly-rising electricity demand.
About the Company
Atomic Minerals is a Vancouver based publicly listed uranium exploration company trading on the TSX Venture Exchange. The Company is led by a highly skilled management and technical team with numerous previous successes in the junior mining sector.
For additional information, please visit the Company’s website at www.atomicminerals.ca
Qualified Persons
Mr. R. Tim Henneberry, P.Geo. (BC), is the “Qualified Person” under National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) and is responsible for the technical contents of this news release and has approved the disclosure of the technical information contained herein.
ON BEHALF OF THE BOARD OF DIRECTORS
“Clive Massey”
Clive H. Massey
President & CEO
