Energy Fuels Stock Surges on U.S. Uranium Reserve Expansion Plans

Uranium miner Energy Fuels (UUUU) rallied nearly 25% this week following remarks from U.S. Energy Secretary Chris Wright at the IAEA conference. The proposed expansion of America's strategic uranium reserve WOULD bolster domestic nuclear energy capabilities while reducing reliance on Russian supplies.

"We're moving to a place—and we're not there yet—to no longer use Russian-enriched uranium," Wright declared. The policy aligns with broader energy security objectives as power demands escalate, particularly from AI-related infrastructure growth.

Market enthusiasm reflects anticipation of increased government contracts, though execution risks remain. Energy Fuels stands positioned as a primary beneficiary should the initiative materialize, given its Core uranium processing operations.