Pres. Trump Wants $1.5B Over 10 Years to Revive Uranium Mining
SALT LAKE CITY (AP) — The Trump administration wants to spend $1.5 billion over 10 years to create a U.S. uranium reserve, claiming that reliance on cheaper uranium imports threatens the country's energy security.
But some market analysts, lawmakers and others say the Republican president is seeking a taxpayer handout for uranium companies that can’t compete in the global market.
And residents near a Utah uranium mine say they fear an increase in radioactive threats. Demand for the nuclear fuel has plunged globally since Japan's 2011 Fukushima disaster.
Trump's proposal comes as a new federal report shows domestic uranium production plummeting 96% over the last five years.