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Our -- -- welcome a case in nearly one in five US homes powered by nuclear energy but I quit my next guest.
We'll be facing a uranium crisis.
Because of a contract with -- that's about to expire.
-- not -- the CEO of Uranium Energy cork uranium production exploration company.
Which they stand to benefit from -- -- -- are.
Thank you for having -- -- explain to me -- and it could all come down to a uranium shortage.
For just -- this this treaty which is that highly enriched uranium treaty HEU.
Was really enacted at a time when it was meant to be a non proliferation measure I was in the mid it was a way to.
Reduce the nuclear arsenal inventories in Russia.
And it really over flooded the market -- become it has become over the last twenty years to single sorts a single largest source of supply in the market.
And it expires in the end of this year and just like anything in commodities when you tighten that supplied by that much and take the single largest source out.
It's found that if -- put some upward pressures on the price but we have -- -- accurate there are nuclear power plants under construction the united it's either two or three new reactors will be correct on line that generates 90% of our electricity.
When -- senator Lugar.
Who initiated that treaty with Russia when all of that came at a place to that we have mines that were operating that then would have clothes that could be reopened and isn't that where you comment.
That's the whole idea is that historically the United States is the largest producer of uranium and before this treaty with Russia.
This was a big industry in the US US was in fact an exporter of uranium.
Today when -- -- -- US domestic consumption it's about 55 million pounds per year.
But domestic production has only four million pounds -- year there will be a resurgence in the industry -- -- -- your mind and you're using technology where it's actually much cheaper to produce uranium from what I understand it's not really used anywhere else except for Kazakhstan from what I understand once again.
So how -- that offset what could be a price surge -- uranium with the expiration of this treaty with Russia that you're describing.
In this this method insists her recovery -- stars being used -- -- limited accents in the US my company started mining uranium with this -- about two years ago it is absolutely.
The lowest cost -- of mining uranium and more environmentally friendly because it has a much smaller footprint.
So this method of mining has already played a significant role in the last ten years to help increase global production mainly coming out of -- accent.
We really think we can use the same technology effectively here in the US and places like south Texas where were producing.
To help this resurgence of the domestic uranium mining industry if someone wanted to invest in -- technology that you're going to be using -- companies that make -- you have to make that yourselves do you buy the rights to make things you know the technology this is something that was actually developed over thirty years ago no one really has let's -- a patent right overrated and so it's more -- know -- and having to -- -- the expertise that goes -- -- with that.
That can enable the company to utilize this.
So again we feel that our companies -- -- kind of at the cutting edge of this right now because our project that's sort of production -- who has actually been new assuring him mine in the US and seven years.
Are these things are taking a very long time to get developed.
-- part of the problem right is the stigma in the aftermath of -- rights over it.
-- what -- content has cut into -- -- -- Alfred.
The -- has been a marvelous challenging events that is really rocked the nuclear industry globally but when you look at the fact that.
The world still.
Is at a record level of population we need energy sources that could be diversified they can be cleaned in terms of being CO2 emission free -- can be reliable.
Nuclear still has a very important place in the energy mix and that's why.
We're -- 67 reactors under construction globally today.
The biggest growth growth rate we've ever had after it's a wrap up very quickly can you share -- that's the percentage of uranium that your company supplies to say to the US market.
But right now the world we're just about 67%.
-- -- market re not in terms of that the domestic production that exists in the US today.
Would that percentage of essential to grow too and we've got the potential to become almost 20% of the US market share with the capacity that we have that are plants in Texas fascinating come back again and listening to him and wood left severe thank you -- thank you very much for me money.
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