enCore Energy (TSXV: EU) said today that the company has been awarded a contract to sell 100,000 pounds of natural uranium concentrates (U3O8) to the Government of the United States at a price of $70.50/pound, under the new Uranium Reserve Program.
enCore is one of five qualified United States based operators, with existing licensed facilities, approved to sell domestically sourced natural uranium to the United States government’s Uranium Reserve Program, noted the company.
"The uranium purchase will help the government establish a strategic uranium reserve and represents the first uranium purchase by the United States government in 40 years," wrote the company in a news release. "The Uranium Reserve is intended to be a backup source of supply for domestic nuclear power plants in the event of a significant market disruption and provide support for restarting uranium production in the United States."
enCore Energy is an in-situ recovery uranium development company with projects in the U.S.
The company was mostly flat for the day, trading down 0.63% to $3.15 a share.
