November 30, 2010 at 8:46 pm #2446
US approves uranium license transfer in Wyoming
November 30, 2010 7:24 PM ET By MEAD GRUVER
CHEYENNE, Wyoming (AP) – Two uranium mines in Wyoming are on their way to control by a Russian company now that the Nuclear Regulatory Commission has approved transferring the mines’ licenses.
The commission last week approved the license transfer involving a Russian company, JSC Atomoredzoloto, or ARMZ, which expects to obtain a controlling interest in Canadian-owned Uranium One by year’s end. Uranium One holds the licenses for a proposed in-situ uranium mine and an existing in-situ uranium mine in northeast Wyoming.
The commission continues to prohibit exporting the uranium. The proposed deal nonetheless had raised concern among Wyoming’s congressional delegation, who said the uranium could in theory go overseas and serve against U.S. interests. “The administration must maintain rigorous oversight of this project and ensure this transaction does not undercut America’s national or energy security,” Sen. John Barrasso said through a spokeswoman Tuesday.
Sen. Mike Enzi and Rep. Cynthia Lummis also promised they would keep an eye on the deal. The Nuclear Regulatory Commission responded to informal inquiries from Barrasso’s office regarding whether the uranium could be easily exported, said NRC spokesman David McIntyre.
Uranium One remains the licensee, he said, and would need to apply to the commission for an export license to send the uranium outside the country.
Most existing Uranium One customers are in the U.S., said Chris Sattler, executive vice president of investor relations for Uranium One. “For us in terms of selling that uranium production form the United States, it would make sense for us to deliver on those contracts,” he said.
Uranium One on Friday announced closing the initial $610 million phase of the transaction with ARMZ. The companies expect a final deal giving ARMZ a 51 percent holding in Uranium One shares to close by the end of December.
November 30, 2010 at 8:49 pm #5382
Does anyone really believe that once the Russians own this Canadian Trojan Horse (Uranium One) that it cannot be used to export uranium to Russia? And does anyone believe that the our Admin can provide trustworthy oversight after delivering up the current Wallstreet/Real Estate/Financial/ect Crisis because they didnt do thier jobs there????
Only good thing is that with all de-commissioned nukes, russians will be swimming in cheap nuclear plant fuel that they will (have reduced +2008) stop selling in 2013 (once had 435mm lb inventory of U308 fuel from nukes but ~gone since used as ~50% worlds nuke fuel supply last 20 years at dirt cheap prices ($7-28/lb) until spike to $120/lb end 2007 as China & Russia started building +25 & +35 nuke reactors respectively. Alternate cost ~$250/lb to justify new mine produce it.
I Once did TVA cost analysis in 2006 suggested they stop playing hardball at $90/lb U308 fuel and sign on at spike prices but they were able to get long term price in US at ~$95/lb …… just proves we have are heads up our butts in everything related to Nuke Energy in US because of bunch stupid environmentalist who dont want safe, dependable, CO2 free energy but pretend they do.
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