Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) in Strong Position as 2022 Uranium Outlook Appears Promising

  • Uranium is one of the few commodities to register two solid years of gains amid a global pandemic
  • Nuclear continues to account for 20% of total electricity in the U.S. and is the largest source of carbon-free power, with consistent global growth projected through 2050
  • Energy Fuels holds three of America’s key uranium production centers and boasts more uranium production capacity than any other U.S. company

As the new year begins, things in the uranium sector look good, according to a recent Uranium Investing News report. A rosy 2022 forecast means good news for Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR), a leading U.S.-based uranium mining company that supplies U308 to major nuclear utilities.

2021 was another breakout year for uranium prices,” stated the report ( “Following 2020’s growth, prices for the energy fuel climbed 45%, rising from US$29.63 per pound in January to US$50.63 in September, a nine-year high and a critical threshold for explorers, developers and producers. Although prices were unable to maintain that level, values have been able to remain above US$40 in the months since then.”

The article noted that uranium was one of the few commodities to register two solid years of gains amid a global pandemic, causing many analysts to predict that higher uranium prices are here to stay.

“This idea has been bolstered by rising demand for clean energy, specifically the need for carbon-free electricity,” the article continued. The article went on to quote John Kotek, vice president of policy development and public affairs at the Nuclear Energy Institute, who said: “Globally, nuclear continues to account for 10% of total electricity and is the second-largest source of carbon-free power. . . . While that number won’t change much in the near term given the number of nuclear reactors under construction today, the interest we’re seeing in new nuclear construction coupled with the increasing drive to decarbonize gives us confidence that share will grow over time.”

Uranium Investing News said that Kotek also pointed to recent analysis by the International Atomic Energy Agency, the Organization for Economic Co-operation and Development, the International Energy Agency and other organizations that reinforce the projection that world nuclear generation capacity will increase significantly by 2050, with an estimated 50 new nuclear reactors under construction and in line to join the current global fleet of 445 reactors.

The article cited a 2021 World Nuclear Association report that stated “there is a clear need for new generating capacity around the world, both to replace old fossil fuel units, especially coal-fired ones, which emit a lot of carbon dioxide, and to meet increased demand for electricity in many countries. . . . In 2018, 64% of electricity was generated from the burning of fossil fuels.” 

Energy Fuels holds three of America’s key uranium production centers: the White Mesa Mill in Utah, the Nichols Ranch ISR Project in Wyoming and the Alta Mesa ISR Project in Texas. The White Mesa Mill is the only conventional uranium mill operating in the U.S. today, has a licensed capacity of more than 8 million pounds of U3O8 per year, and has the ability to produce vanadium when market conditions warrant. The mill also just began producing rare earths in 2021. The Nichols Ranch ISR Project is currently on standby and has a licensed capacity of 2 million pounds of U308 per year. The Alta Mesa ISR Project is also currently on standby. 

In addition to these production facilities, Energy Fuels has one of the largest NI 43-101-compliant uranium resource portfolios in the country, along with several uranium and uranium/vanadium mining projects on standby and in various stages of permitting and development. 

For more information, visit the company’s website at

NOTE TO INVESTORS: The latest news and updates relating to UUUU are available in the company’s newsroom at

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