U.S. Senate Committee on Appropriations Advances Budget Allocations for American Uranium Reserve Program

The Senate Committee on Appropriations (“Committee”) released its twelve FY2021 funding measures and the FY2021 subcommittee allocations, including recommendation for the creation and funding of the American Uranium Reserve.

The American Uranium Reserve is among the recommendations of the U.S. Nuclear Fuel Working Group Report (April 23, 2020) for the revitalization of domestic uranium mining and the U.S. nuclear fuel cycle The funding request is the same $150 million for FY2021 advanced by the President’s proposed budget announced in February 2020.

Creation of the American Uranium Reserve will begin to address the nation’s nearly complete dependence on imported uranium fuel products, most of which originate from state-supported enterprises in Russia and Kazakhstan. As set forth in the Report, “As included in the President’s Fiscal Year 2021 Budget Request, during the first year, it is expected that the reserve would directly support the operation of at least two U.S. uranium mines and the reestablishment of active domestic conversion capabilities.” The American Uranium Reserve, as envisioned in the Working Group Report, will enable the U.S. government to make direct purchases from domestic uranium miners of 17-19 million pounds of U3O8 over ten years.