nuclear-news

USEC scraps uranium plant

USEC scraps uranium plant, mulls options
 Jul 28, 2009

By Matt Daily and Michael Erman (Editing by Lisa Von Ahn, Maureen Bavdek, Phil Berlowitz)

NEW YORK (Reuters) – USEC Inc said on Tuesday it would scrap plans to build a new uranium enrichment plant and may now seek a partner or buyer after the U.S. Department of Energy denied its request for a loan guarantee, sending its stock plummeting.

USEC’s planned American Centrifuge Plant in Piketon, Ohio, was one of four new facilities proposed that would be built to supply enriched uranium to the nuclear power sector, which industry experts believe is poised for a renaissance in the United States……………..The company had so far sunk $1.5 billion into the ACP project, using funds from the equity and debt markets, but still needed another $2 billion………………………..USEC’s shares plunged 36 percent to $3.97 on the New York Stock Exchange.

USEC scraps uranium plant, mulls options | Green Business | Reuters

July 29, 2009 - Posted by Christina Macpherson | 1