Energy Fuels president details Uranerz acquisition

Energy Fuels CEO and President Stephen Antony issued a letter to company shareholders Wednesday detailing the acquisition of Uranerz Energy Corp.

The letter details the completion of the Uranerz acquisition and states that common shares are currently traded under "UUUU" on the New York Stock Exchange. Antony says with Uranerz joining the corporate structure, they are the only uranium producer that is capable of both conventional and In Situ Recovery (ISR) forms of uranium extraction.

The company's contribution to the national uranium supply in 2014 was approximately 20 percent. While the U.S. is the largest consumer of uranium, according to Antony, international markets are also expected to increase their nuclear power generation and he says the nuclear industry should experience significant growth globally.

"China is aggressively building new reactors, with 26 under construction today and possibly 150-200 reactors in operation by 2030," Antony said in the letter. "Uranium production is being cut at major mines around the world. We expect Japan to return to the nuclear family and restart a majority of their operable reactors. Finally, as the world gets more serious about addressing air pollution and global climate change, the nuclear industry, which has a very small carbon footprint, could experience strong growth – and uranium producers like Energy Fuels would be expected to benefit."