Jim entered into a Consulting Agreement with Traxys North America, LLC during January 2012 to provide, on an exclusive basis, nuclear fuel trading, investment and deal structuring services in his capacity as the uranium group’s, Director- Structured Uranium Transactions. He is responsible for identifying and executing on non-standard nuclear fuel trading opportunities, developing new uranium supply relationships, broadening Traxys’ geographical reach, contributing new and promising counter parties, identifying uranium investment targets, and providing market analysis and trading strategy support. Traxys North America, LLC is one of the largest private commodity trading companies in the world. Traxys Uranium is one of the largest and most successful uranium trading firms in the nuclear industry with annual deliveries of 6000 MTU and revenues between US$ 600-700 million.
During October 2011, Jim entered into a Consulting Services Agreement with Ur-Energy Inc. to provide uranium marketing, contracting, and financing services. Ur-Energy is one of the lowest cost uranium producers in the world, and is on track to produce 1 million pounds of U308 from its Lost Creek mine in 2014. Jim developed, and has executed on, a marketing plan that is largely credited with making it possible for Ur-Energy to thrive financially despite very challenging uranium market conditions. The Agreement with Ur-Energy currently runs through the end of 2016.
In February 2009, Jim, in partnership with Cadent Energy Partners, established NuCore Energy, LLC. NuCore became one of Cadent’s best performing portfolio companies by successfully managing an US$ 80 million fund that focused on investments in the uranium mining and services sector. The company executed on several opportunities for creating a uranium equity fund, managed a physical uranium portfolio, and negotiated multiple private placement investment agreements with uranium mining companies. Today the company serves as the corporate vehicle for Jim’s advisory services agreements with Traxys North America, LLC and Ur-Energy Inc.
Jim served as President and Chief Executive Officer of Nukem Inc., from January 1, 1998 until his retirement from the firm in May 2008. During his tenure, Nukem’s nuclear fuel trading division consistently ranked in the top five suppliers of nuclear fuel along with Cameco, Areva, BHP Biliton, and RTZ. In almost every financial category Nukem ranked among the best performing companies in the nuclear industry. The company’s trading book regularly generated revenues between US$ 700-900 million, EBITDA between US$ 100-220 million, and a ROCE in excess of 25%. Jim took the lead role in negotiating all supply agreements with Uzbekistan and Kazakhstan, and played an instrumental role in the negotiations that resulted in the historic U.S.-Russia HEU agreement, commonly referred to as “Megatons to Megawatts”.
Previously, Jim served as Vice President at Nukem beginning in 1987. He was responsible for transitioning Nukem from a brokerage operation into a pre-eminent uranium trading and nuclear supply company. Jim served as publisher of the award winning Nukem Market Report during his entire tenure at Nukem, and is recognized as a leading expert on the global nuclear fuels market. He has presented numerous papers on nuclear fuel market issues at conferences hosted by the IAEA, WNA, German Nuclear Forum, NEI, WNFM, Nuclear Weapons and Materials Monitor, Platts Nuclear, and Cormark Securities. Jim also served as President of the American Uzbekistan Chamber of Commerce and the Treasurer of the U.S.-Kazakhstan Business Association for over ten years.
Jim received his Bachelor of Arts degree from Wesleyan University in Middletown, Connecticut, in 1976 and his Master of Business Administration from Cornell University in Ithaca, New York in 1978.