The United States plans to increase uranium reserves, sending uranium mining stocks soaring.

```

To address the "rapid growth" in nuclear energy, the U.S. Secretary of Energy stated that uranium reserves will be expanded.

On September 15, U.S. Secretary of Energy Chris Wright said at the International Atomic Energy Agency conference in Vienna that the United States plans to expand its strategic uranium reserves to support what it anticipates as a phase of "rapid growth" in nuclear energy. He also emphasized:

The U.S. is moving towards no longer using Russian enriched uranium.

Wright pointed out that Russia currently supplies about one quarter of the enriched uranium for America's 94 nuclear reactors, which provide one fifth of the nation’s electricity. According to reports, if Russian supplies are cut and no alternatives are available, about 5% of the power supply could be at risk.

This statement immediately drove up uranium mining stocks. By Monday’s market close, Energy Fuels had surged over 15%, and Uranium Energy and Cameco Corporation both climbed more than 10%.

Breaking Free from Russian Dependence: The Urgent Need to Rebuild the U.S. Domestic Supply Chain

Ending dependence on Russian nuclear fuel is at the core of the United States’ current energy strategy.

To systematically reduce this risk, former President Biden signed a law in 2024 requiring utility companies to stop using Russian uranium by 2028. In response, Russia subsequently restricted related exports.

However, the U.S. currently has relatively limited uranium enrichment capacity, with only two major facilities.

Among them, the Urenco plant in New Mexico serves traditional reactors, while the plant in Ohio has recently begun producing higher-enriched fuel for advanced reactors.

In May of this year, the White House issued an order aimed at accelerating the deployment of advanced nuclear technologies such as small modular reactors, with the first models expected to enter testing next year. Wright said the U.S. is “pulling out all the stops” to rebuild its nuclear fuel supply chain. He added:

We hope to see rapid growth in uranium consumption by both America's large reactors and small modular reactors.

As future nuclear power demand grows, Wright emphasized:

The size of buffer reserves will also need to grow over time. We need a substantial amount of domestic uranium and enrichment capacity.

Reserve Levels Lag Behind Other Countries

Although the U.S. is taking action, its current level of strategic reserves still lags significantly behind other major nuclear power countries.

According to IAEA data, U.S. companies on average hold only a 14-month uranium inventory. In contrast, the European Union average is 2.5 years, while China’s reserves reach as high as 12 years.

The U.S. strategic uranium reserve plan was first proposed in 2020, seeking $150 million in funds, but Congress approved only half. The Biden administration later supported the plan, and the Department of Energy began purchasing from U.S. miners in 2022. This clear move to expand reserves signals a rising sense of urgency for the plan.

Meanwhile, the U.S. government is actively encouraging private sector investment and international cooperation to accelerate supply chain rebuilding.

In his speech, Wright cited Peter Thiel’s General Matter as an example of private investment, emphasizing:

This is crucial for efficiency, innovation, and development speed—it’s the way to drive progress.

Several weeks ago, Centrus Energy announced it had signed a memorandum of understanding with Korea Hydro & Nuclear Power (KHNP) and POSCO International to explore potential investment in its Ohio enrichment facility.

U.S. Secretary of Commerce Ruthnick and Korea’s Minister of Trade, Industry and Energy Kim Jeong Kwan attended the signing ceremony together, highlighting the deepening U.S.–Korea partnership in civilian nuclear energy and the market’s urgent demand for non-Russian sources of enriched uranium.

Risk Warning and DisclaimerThe market involves risk—investments should be made cautiously. This article does not constitute individual investment advice, nor does it take into account the special investment objectives, financial situation, or needs of particular users. Users should consider whether any opinions, viewpoints, or conclusions in this article are suitable for their specific situation. Invest at your own risk. ```