Uranium mining operations in are gearing up for a potential dramatic expansion in operations, as a proposed ban on Russian imports drives up prices for the crucial nuclear reactor fuel.
Uranium spot prices hit $92.50 this week, the highest since 2007 and up more than 84 percent from a year ago, according to data shared with DailyMail.com by market-tracking firm .
On Tuesday, the Department of Energy announced that it would seek bids from contractors to help establish a domestic supply of a uranium fuel enriched to higher levels, for use in the next generation of nuclear reactors.
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