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2024-11-21 01:41
Centrus Energy (NYSE:LEU) +8.5% in Wednesday's trading after saying it is resuming centrifuge manufacturing activities and expanding manufacturing capacity at its Oak Ridge, Tennessee, facility.
The company said it plans to spend an additional ~$60M for the effort over the next 18 months, which would lay the groundwork to support a potential large-scale expansion of uranium enrichment at the Centrus' (LEU) American Centrifuge Plant in Ohio.
Such a large-scale expansion would require a multi-billion dollar public and private investment, the company said.
"Today's investment will jump-start what we hope will be a multi-billion dollar public and private commitment to reestablishing America's uranium enrichment capacity at scale while reducing our dependence on foreign nations," Centrus (LEU) President and CEO Amir Vexler said.