FUEL & FUEL CYCLE | US URANIUM
Eagle Energy and US uranium
Eagle Energy Metals aims to bolster US uranium production with plans for its 50.6mlb (19,400tU) Aurora uranium project. CEO Mark Mukhija talks to NEI about the tailwinds driving US uranium production.
By Caroline Peachey
AMID SOARING ELECTRICITY DEMAND, ENERGY security concerns and geopolitical tensions, the US is once again turning its attention to nuclear power. With that comes the ambition to revitalise US uranium production. US utilities currently import more than 95% of their uranium concentrate, including a significant share from countries like Russia and Kazakstan, posing a potential threat to security of supply. Driven by a pressing need to fortify energy security
and reduce reliance on foreign suppliers, the US is now embarking on a substantial expansion of its uranium industry. Nuclear Engineering International’s parent company, GlobalData, says that by the end of 2030, its projections indicate a “dramatic increase” in the US share of global uranium output, potentially reaching 7.5% – up from a mere 0.7% in 2024.
Eagle Energy Metals, a uranium-focused company with
rights to Aurora – the largest mineable, measured and indicated uranium deposit in the US with 50-million-pound (mlb) of uranium reserves – is looking to position itself as a leading domestic supplier. However, the company also has broader ambitions – and has announced its intention to go public through a Special Purpose Acquisition Company (SPAC) merger with Spring Valley Acquisition Corp.
NEI: What are the main factors driving increased interest in bolstering domestic uranium production in the US? MARK MUKHIJA (MM): All the recent attention on nuclear power is putting that attention onto to uranium as well. According to the executive orders that came out in late May, the US wants to quadruple its nuclear energy capacity by
Above: Eagle Energy Metals not only has two reactor designs but access to fuel supply as well 22 | October 2025 |
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