GTI Energy Ltd (ASX:GTR, OTC:GTRIF) has taken its place among the key uranium sector players in the US on being accepted as a member of the Uranium Producers of America (UPA), the peak industry lobbying and representative body for the US uranium sector.
UPA is a national trade association representing domestic uranium mining, conversion and enrichment companies within the front end of the nuclear fuel cycle.
Its mission is to promote the viability of the nation’s uranium industry while being good stewards of the environments in which its members work and live.
Moving US industry forward
GTI executive director Bruce Lane said: “We are very pleased to be joining the UPA and taking our place amongst key players in the US uranium sector including our neighbours in Wyoming.
"We look forward to the opportunity to collaborate with the UPA team and members and to contribute to moving the US uranium industry forwards as it continues its resurgence.”
Role in policy development
The UPA has played a meaningful role in the enactment of three major pieces of legislation supporting the US uranium industry in the last year including:
- The inclusion of the Nuclear Fuel Security Act (NFSA) in the House-Senate agreement for the Fiscal Year 2024 National Defense Authorization Act;
- Funding for the NFSA through the Consolidated Appropriations Act of 2024; and
- H.R. 1042, The Prohibiting Russian Uranium Imports Act.
GTI Energy said the passage of these significant pieces of legislation through both US houses of government, with genuine bipartisan support, highlighted the commitment of elected representatives in the US to support the nuclear power and uranium industries.
“These measures are seeking to provide long-term market certainty and upwards of $4 billion in federal funding to the nuclear fuel industry, signaling a very strong commitment to rapidly rebuild an industry which is now seen as a cornerstone of energy policy in the US for the long term,” the company said.
“Eager to work together”
“We are excited to welcome GTI Energy Ltd to the UPA and are eager to work together in continuing to expand our domestic uranium industry," UPA president Scott Melbye said.
"GTI plays an important role in uranium exploration in the United States and UPA looks forward to collaborating with GTI and our other members to further advance the front end of the US nuclear fuel cycle.”
About the UPA
UPA members include North America's most prominent uranium and nuclear fuels companies that carry out uranium exploration, development and mining operations in Arizona, Colorado, Nebraska, New Mexico, South Dakota, Texas, Utah and Wyoming.
A conversion facility is located in Illinois and UPA’s member enrichment company is based in North Carolina and Kentucky.
READ: GTI Energy fully funded for near-term resource expansion drilling at Lo Herma Uranium Project
Drilling underway
Acceptance to the UPA comes as GTI Energy has its 2024 drill program at the flagship Lo Herma ISR project in Wyoming underway targeting expansion of the total uranium mineral resource.
It is also intended to upgrade a portion of the current 5.71 million pounds inferred mineral resource to the higher indicated classification.
Up to 76 drill holes, including up to five groundwater monitoring wells, will be advanced this year for an estimated 57,000 feet (~17,000 metres) of drilling.