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Peninsula Energy to supply uranium to the United States

Inspenet.

December 21, 2022

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By : Inspenet, December 21, 2022

Peninsula Energy, through its subsidiary Strata Energy, will deliver uranium to the United States. This takes place after receiving the supply contract from the country’s Department of Energy (DOE).

Under the document, Peninsula will provide locally produced uranium concentrates to the Reserve for USD 75 million. According to Miningweekly, Strata will supply 300,000 pounds of uranium pentoxide (U3O8) of US origin for the Uranium Reserve.

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Strata was a qualified provider under the terms of the solicitation and submitted an initial offer to the DOE in early August 2022. The DOE notified the winning vendors on December 15. Delivery will be made with US-sourced material currently in Strata accounts.

Peninsula told shareholders the agreed price is above current spot and forward price benchmarks. This reflects the scarcity of US-sourced materials on the uranium market.

The company produced uranium at its Lance projects in Wyoming from 2015 to 2019. It is now in the process of completing final preparations to resume production activities at Lance in the first quarter of 2023.

Source : https://www.rumbominero.com/usa-internacionales/peninsula-energy-uranio-estados-unidos/

Photo: ShutterStock

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