The US will boost its capacity to make nuclear fuel by as much as 50 per cent after a multibillion investment by a company part owned by the UK and Dutch governments, as Washington aims to reduce its reliance on Russian uranium enrichment.
Urenco said on Tuesday it would build a new uranium enrichment plant in New Mexico ahead of a looming import ban on Russian reactor fuel, which is set to begin in 2028 under legislation passed during the Biden administration.
Russia currently controls almost half the world’s uranium enrichment capacity and supplies as much as a fifth of the nuclear fuel used by the US fleet of more than 90 nuclear reactors.