For years, pressure has been building for a commercial path to a stable supply of high-assay low-enriched uranium (HALEU)—deemed essential for the deployment of advanced power reactors—but advanced reactor developers and enrichment companies are still watching and waiting. In contrast, the uranium spot price soared after Sprott Physical Uranium Trust, a Canadian investment fund formed in July, began buying up U3O8 supplies, causing the price to increase over 60 percent, topping $50 per pound for the first time since 2012. Fueled by growing acknowledgment that nuclear power is a necessary part of a clean energy future, uranium is the focus of attention from Wall Street to Capitol Hill.
September 22, 2021, 3:00PMNuclear News
September 2, 2021, 3:02PMNuclear News
The U.S. Department of Energy and Norway’s Ministry of Trade, Industry, and Fisheries have signed a memorandum of understanding to advance a project aimed at eliminating Norway’s high-enriched uranium by downblending it to low-enriched uranium. If the project is successfully completed, Norway will become the 34th country (plus Taiwan) to be considered HEU-free.
In the downblending process, HEU is mixed with depleted or natural uranium to reduce the U-235 concentration to below 20 percent, resulting in LEU, which cannot be used to make an improvised nuclear device (aka “dirty bomb”). According to the DOE’s National Nuclear Security Administration, the challenge with Norway’s HEU has been that much of it is mixed with thorium, making the use of other disposition techniques more problematic.
A closer look: Signed on September 1 by U.S. energy secretary Jennifer Granholm and her Norwegian counterpart, Iselin Nybø, minister of trade and industry, the MOU calls for small-scale downblending activities to begin in 2022 using Norway’s existing infrastructure. It also paves the way for the eventual deployment of the DOE’s Mobile Melt-Consolidate system to complete the work.