The Uranium Producers of America (“UPA”) was founded in 1985 to promote the viability of the domestic uranium industry. Current members are Cotter Corporation, Crow Butte Resources, Inc., Energy Metals Corp., International Uranium Corporation (IUC), Laramide Resources Ltd., Mestena Uranium LLC, Power Resources, Inc., Strathmore Minerals, Uranium Resources, Inc. and U.S. Energy. UPA believes that it is vital to the energy independence of the United States that domestic uranium play a role in the front end of the nuclear fuel cycle.
The United States currently derives 20% of its electricity from nuclear power. In order to generate this electricity, domestic utilities now annually consume approximately 56 million pounds of uranium. In order to break our nation’s addiction to oil, nuclear power generation must play a larger role in generating electricity. Because worldwide demand for uranium, which is rapidly increasing, has far outstripped supply for many years, new sources of uranium are imperative.
Dating back to the early days of the Atomic Energy Commission, the Federal Government has played a leading role in the development of the domestic uranium producing industry. The Federal Government partnered with private companies to create this industry. Unfortunately, the Federal Government also played a leading role in the demise of the domestic producing industry. By liquidating massive quantities of DOE uranium, U.S. Government practices created circumstances in which the market price of uranium had little to do with the cost of producing uranium.
However, renewed interest in nuclear power coupled with the recognition that there is simply not enough existing uranium production to meet reactor requirements has created a need for new uranium production. UPA members are poised to meet an important portion of this demand. This contribution is a vital component of national energy security.
UPA members are interested in working with Congress and the Administration to assure an adequate supply of uranium exists to meet current and future reactor demands. UPA members ask for a level playing field in order to reestablish the United States as a significant supplier of this important energy source.
We look forward to working with you on this critical issue. Please call upon UPA or its members for any information we can provide to assist you.
Ron. E. Hochstein President, Uranium Producers of America