New book by Larry Connors Click here Improve your trading - See how
"We are proud of our role in implementing one of the most successful nonproliferation programs ever," said John K. Welch, USEC president and chief executive officer. "For more than 15 years, the Megatons to Megawatts program has transformed this weapons material for the long-term benefit of mankind. In utilizing this fuel, America's nuclear power plants have made us all safer while providing clean, emissions-free electricity to power our lives."
The Megatons to Megawatts program is a unique, commercially financed government-industry partnership in which 500 metric tons of weapons-grade uranium from dismantled Russian nuclear warheads are being recycled into low enriched uranium (LEU) used to produce fuel for American nuclear power plants. USEC, as executive agent for the U.S. government, and JSC "Techsnabexport" (TENEX), acting for the Russian government, implement this 20-year program.
To date, 375 metric tons of highly enriched uranium (HEU) have been downblended into 10,868 metric tons of LEU, enough to produce electricity that would meet the demand for a city the size of Boston or Seattle for approximately 575 years.
Through the end of 2008, USEC had paid the Russian Federation more than $5.6 billion for the SWU component of the LEU delivered since 1995. The total amount paid to Russia through the 20-year life of the contract is expected to substantially exceed $8 billion.
Background: HEU to LEU
The recycling of HEU into LEU begins with a multi-step process at several facilities in Russia. HEU metal is first removed from a warhead, machined into shavings, oxidized and fluorinated. The resulting highly enriched uranium hexafluoride is then mixed in a gaseous stream with slightly enriched uranium to form LEU suitable for commercial nuclear reactors. The LEU is checked to ensure it meets commercial specifications, transferred to shipping cylinders and sent to a collection point in St. Petersburg. USEC takes possession of the material there and ships it to USEC's facility in the United States where it is inspected and then included in USEC's inventory.
USEC Inc., a global energy company, is a leading supplier of enriched uranium fuel for commercial nuclear power plants.
SOURCE: USEC Inc.
USEC Inc. Media: Elizabeth Stuckle (301) 564-3399 Investors: Steven Wingfield (301) 564-3354
More News:
Market Updates |
Stock Alerts |
All Trading News |
Stock Index
About TradingMarkets | Contact | Advertise | Careers | Link to Us | Site Map | Help | Terms & Conditions | Privacy Policy | Return Policy | Testimonials | Feedback
The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.
It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.
HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.
The Connors Group, Inc.
10 Exchange Place, Suite 1800
Jersey City, NJ 07302
© Copyright 2009 The Connors Group, Inc.
