home Equities T.AZZ Comments on President Trump’s New Working Group Focused on Reviving And Expanding U.S. Nuclear Fuel Production

T.AZZ Comments on President Trump’s New Working Group Focused on Reviving And Expanding U.S. Nuclear Fuel Production

AZARGA URANIUM CORP. (TSX: AZZ, OTCQB: AZZUF, FRA: P8AA) (“Azarga Uranium” or the “Company”) understands that President Trump has established the United States Nuclear Fuel Working Group (the “Working Group”) to develop recommendations for reviving and expanding domestic nuclear fuel production.

Further to the Company’s press release dated 17 April 2019, on 12 July 2019, President Trump announced that the United States Department of Commerce determined that uranium imports are a threat to United States national security. President Trump has established the Working Group to not only address this concern, but also to ensure a complete review and reinvigoration of the United States nuclear fuel supply chain, consistent with the United States national security and nonproliferation goals. The Working Group will submit its findings and make its recommendations to the President within 90 days of 12 July 2019.

In his memorandum, President Trump stated, “I agree with the Secretary [of Commerce] that the United States uranium industry faces significant challenges in producing uranium domestically and that this is an issue of national security.”

Blake Steele, President and CEO stated, “We appreciate the administration’s recognition of the importance of the United States uranium sector and look forward to the recommendations of the Working Group.  While Azarga Uranium welcomes such attention from the White House, we believe that our initial development priority, the high-grade Dewey Burdock Project, is economically robust and internationally competitive before consideration of any potential benefits that may arise from United States government actions.  As such, we continue to progress Dewey Burdock towards construction in the context of a global uranium market strengthened by supplier discipline and increasing demand.”

About Azarga Uranium Corp.

Azarga Uranium is an integrated uranium exploration and development company that controls eleven uranium projects and prospects in the United States of America (“USA”) (South Dakota, Wyoming, Utah and Colorado) and the Kyrgyz Republic, with a primary focus of developing in-situ recovery uranium projects in the USA.  The Dewey Burdock in-situ recovery uranium project in South Dakota (the “Dewey Burdock Project”), which is the Company’s initial development priority, has received its Nuclear Regulatory Commission License and draft Class III and Class V Underground Injection Control (“UIC”) permits from the Environmental Protection Agency (“EPA”) and the Company is in the process of completing other major regulatory permit approvals necessary for the construction of the Dewey Burdock Project, including the final Class III and Class V UIC permits from the EPA.

Source: Azarga Uranium Corp.