US Department of Energy to Sell 200 Metric Tons of Uranium

The US Department of Energy has announced that it will be selling 200 metric tons of uranium hexafluoride (UF6) in an auction this August.

Recently, the uranium market has been going on a terrific run, rising from $72/lb at the beginning of the year, to its current levels of around $120-$129/lb.

However the decision by the US Department of Energy to sell some of its uranium has been questioned by analysts as uranium is currently in very short supply and the situation doesn’t look as if it will change for a number of years with demand rising.

With uranium is such short supply, should the DOE be selling uranium?

After all, uranium is essential to nuclear power plants and the USA gets more than 20% of its electricity from nuclear power.

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