BHP will run the mine for four additional years and may convert it into a pumped hydro facility to support a post-coal future.
The carbon removal industry could positively impact both the climate and the mining jobs market, according the Carbon Removal Alliance.
US president also instructed the Interior Department to locate coal deposits on federal lands, remove barriers to mining, and fast-track leasing processes.
The Australian miner said it would now take a phased development approach to the project instead of a full-scale development until market conditions improve.
Uranium may run out in 60 years if nuclear energy demand increases, the Nuclear Energy Agency and the International Atomic Energy Agency say.
The company made on-spec neodymium-praseodymium in less than a week at its White Mesa uranium mill.
China's overseas mining investment under its Belt and Road Initiative hit another peak last year at $21.4 billion.
Earlier this week, a government bill that includes a repeal of Nova Scotia's uranium ban was cleared for third reading at the legislature.
Prime Minister Mark Carney said a leading project for the speedy permitting process would be the Cedar LNG project.
The FT reports that Washington wants to broaden the terms of the deal to include other assets, most notably a nuclear power plant that is currently under Russian control.