Centrus Energy Warns of Imminent Uranium Shortage Amid Rising Demand and Russian Import Ban

One of the largest suppliers of enriched uranium fuel in the United States has issued a warning about an impending shortage due to rapidly increasing demand and a ban on Russian imports. According to Jin10, Centrus Energy CEO Amir Vexler stated that the company is accelerating efforts to expand its uranium enrichment capacity at its Ohio facility to fulfill a backlog of $2.3 billion in orders. However, he noted that the restart of several U.S. nuclear power plants and upgrades to reactors aimed at boosting electricity generation will exert pressure on the limited number of Western uranium enrichment suppliers. "I believe the market is currently very tight, and this tension will persist until significant new capacity comes online, which is likely to happen within the next decade," he said.