YellowCake PLC (LON:YCA) has welcomed the decision by US President Donald Trump not to impose any new trade restrictions on uranium imports into the US.
The threat of action had created an 18-month period of uncertainty which has severely restricted activity in the uranium market, said Andre Liebenberg, chief executive.
Trump also announced the establishment of a United States Nuclear Fuel Working Group to examine the current state of US domestic nuclear fuel production.
“We view the decision that no new trade restrictions will be implemented at this stage as positive, and likely to support a return to more normal levels of activity.
“We therefore expect a more measured return to market activity in the near term and remain highly confident in the long-term price outlook for uranium, and therefore in the Yellow Cake investment model."