Cameco pleased with Section 232 decision on U.S. uranium imports
Cameco responded to the decision by President Donald Trump to implement no new trade restrictions on uranium imports into the U.S. following the Section 232 investigation into the matter, saying that, "We are pleased with this decision." "Uranium supplied by Cameco or Canada for zero-carbon energy generation has never been a threat to U.S. national security, and we worked hard to emphasize that distinction throughout this process," said Cameco President and CEO Tim Gitzel. The President also announced the establishment of a United States Nuclear Fuel Working Group to further analyze the state of U.S. nuclear fuel production and report back within 90 days with findings and recommendations to enhance domestic capabilities if deemed to be necessary. This initiative may broaden the range of options that could be considered to support the U.S. uranium industry beyond the trade-related remedies permitted under Section 232. "Cameco will participate in the efforts of this working group in any way we can," Gitzel said. "As a long-term commercial producer, employer, supplier and investor in the U.S. uranium and nuclear energy sectors, we want to see this industry succeed and grow. With operations on both sides of the border, Cameco also sees tremendous value in increasing cooperation between the United States and Canada to address critical mineral issues and strengthen security of supply on a North American, rather than strictly national, basis," Gitzel added. "The recent commitment by President Trump and Prime Minister Trudeau to develop a joint action plan on critical minerals collaboration is an excellent initiative, and we see uranium being a key component of that strategy."