Mississauga, ON -- (SBWIRE) -- 12/10/2018 -- AllPennyStocks.com Media, Inc. (http://www.AllPennyStocks.com/) announces its latest article titled "Anfield Peering Around Corner to Become Top U.S. Uranium Producer."
Companies mentioned in this article include Anfield Energy (TSX-Venture:AEC) (OTCQB:ANLDF) and Energy Fuels Inc. (NYSE American:UUUU) (TSX:EFR).
There was a time when the U.S. was a uranium-producing force, leading the world for nearly three decades up to 1980. In the last half century, low prices for uranium have caused the industry to shrivel up even though, at 55 million pounds annually, the country consumes one-quarter of global supply. Trade tensions, increasing uranium consumption in Asia, leading mines being put on maintenance to bolster prices and a U.S. presidential mandate to produce critical metals domestically have investment and interest in American uranium starting to gain momentum as prices climb higher.
Uranium demand from China is surging as the country spends aggressively on constructing new nuclear reactors as a clean energy source to reduce its massive levels of air pollution. The country has just over 40 reactors running currently, with plans to build about 180 more in the coming years.
That will likely make China the top uranium consumer worldwide, considering the U.S. currently holds the top spot with 99 reactors in operation. That said, demand in the U.S. is also staring at an upswing, with applications for 20 new nuclear reactors awaiting approval from the U.S. Commerce Department.
Production cuts and a potential future supply imbalance has helped stabilize and raise prices for uranium, which had plunged from $73 per pound in February 2011 to just $18 per pound last December. At the end of November, prices had recovered to $29 per pound, perhaps signaling the downtrend has found its bottom.
This has created a favorable environment for new producers to emerge as leading uranium players in the U.S., including Anfield Energy (TSX-Venture:AEC) (OTCQB:ANLDF), a company that arguably could become one of the U.S.'s top uranium producers in the coming years.
The full version of this article can be found at:
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Note: AllPennyStocks.com has been compensated three thousand dollars from a third-party, Frontier Consulting, Ltd. for its efforts in presenting the AEC profile on its web site and distributing it to its database of subscribers as well as other services. For a complete disclaimer, investors are encouraged to click here: https://www.allpennystocks.com/SpotLight/38/Anfield-Energy.htm.