US / DOE Launches Bid To Buy Up To $2.7 Billion Of Uranium From Domestic Sources ( www.nucnet.org )

The US has issued a request for proposals to buy up to $2.7bn (€2.5bn) of enriched uranium from domestic sources in an effort to boost supplies of the nuclear reactor fuel and move the country away from buying it from Russia, the Department of Energy (DOE) said on Thursday.

The DOE said the move will help spur the build-out of uranium enrichment capacity in the US, promote diversity in the market, and provide a reliable supply of commercial nuclear fuel to support the energy security and resilience of the American people and domestic industries, free from Russian influence.

The $2.7bn in funding was part of legislation signed by president Joe Biden in May that imposed a ban on imports of enriched uranium from Russia, as part of sanctions on the country for its full-scale invasion of Ukraine.

Last year Russia provided almost a quarter of the enriched uranium used to fuel the US’s fleet of 94 nuclear plants, making it the number one foreign supplier to the US, according to the DOE.

According to the US Energy Information Administration, Russia has been supplying about 24% of enriched uranium with 12% from Germany and 11% from the UK. The US itself supplies 27%. Those sales provide an estimated $1bn a year to Russia.

The DOE said it plans to award two or more contracts, which will last for up to 10 years. The sources can include new enrichment facilities or projects that expand the capacity of existing enrichment facilities.

“DOE is helping jumpstart uranium enrichment capacity here in the United States, which is critical to strengthening our national security and growing our domestic nuclear industry,” said energy secretary Jennifer Granholm.