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Shortage of funds holds up depleted uranium deconversion plant

Funds shortage delays uranium plant Alburquerque  by  18 aug 13, International Isotopes Inc.’s construction of a first-of-its-kind depleted uranium deconversion plant just west of Hobbs will be delayed because of a shortage of funding for the $125 million project, the company acknowledged Friday…… The Idaho Falls company announced the selection of a 640-acre building site 15 miles west of Hobbs in March 2009 and submitted its license application to the U.S. Nuclear Regulatory Commission the following January. The NRC issued a 40-year construction and operating license last October.

Originally, International Isotopes officials said they hoped to complete construction of the facility in Lea County by the end of 2012.

But the need for additional funding – a mix of equity and debt financing – has extended that timeline…… http://www.abqjournal.com/248776/biz/funds-shortage-delays-uranium-plant.html

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August 19, 2013 - Posted by | technology, Uranium

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