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In today's episode, Marcelo López spoke with Brandon Munro, CEO of Bannerman Resources, a company focused on the exploration and development of uranium mines in Namibia.
Brandon was our L2 Capital Podcast episode 5 guest, where he talked about the dynamics of the uranium sector and his views about it.
In today’s special episode, the conversation focuses on the recently announced White House decision on a Section232 petition filed by two US uranium miners, Ur-Energy and Energy Fuels, in January 2018. The two companies asked for a 25% market share as the imports of uranium, in their view, possessed a threat to national security.
In addition to being at the forefront of a uranium mining company, Munro is an experienced lawyer and has extensive relationships with everyone in the industry, which makes his opinion and vision about the implications of the decision very interesting and worthy of attention.
The Trump administration has decided not to impose quotas on the country's utilities, but has been sympathetic to US miners and has announced the creation of a Nuclear Fuel Working Group. Among other tasks, the Group will have to develop recommendations to support and expand the production of nuclear fuel in the country, and it should be presented within a period of 90 days.
Brandon assesses the implications of the decision for utilities in the US and abroad and also for mining companies, in a very comprehensive way. He speculates on the possible outcomes of the Working Group, as well as considering the protective and incentive measures that can be taken by President Trump from there.
Munro also talks about the impact that the decision may have on the price of uranium and provides his estimate for the price range of the commodity by the end of the year, based on the dynamics he observes in the market.
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