Cameco and SILEX - uranium enrichment!!!

[Oscar]

Canada’s largest uranium miner acquires a minority interest in company commercializing new laser-based uranium enrichment process

[ https://magazine.cim.org/en/news/2021/c ... nology-en/ ]

By Mehanaz Yakub February 02, 2021

(PHOTO: Global Laser Enrichment has the exclusive rights to commercially develop Silex's uranium enrichment technology, which has the potential to lower costs for uranium producers. Courtesy of Silex Systems.)

Cameco has completed a joint acquisition with Silex Systems for GE-Hitachi Nuclear Energy's shares of Global Laser Enrichment LLC (GLE), the company announced on Jan. 31.

The Saskatchewan-based uranium miner increased its interest in GLE from 24 per cent to 49 per cent, with the option to eventually acquire a majority interest of up to 75 per cent. Australia’s Silex Systems purchased the remaining 51 per cent after GE-Hitachi Nuclear Energy (GEH) agreed to sell its 76 per cent share.

GLE, which is a business venture started by General Energy, Hitachi and Cameco in 2008, has the exclusive rights to commercially develop Silex’s laser-based uranium enrichment technology.

Uranium enrichment is a complicated process, and it accounts for approximately 30 per cent of the total cost of nuclear fuel. According to Silex, its process provides a much higher enrichment process efficiency compared to common enrichment methods, such as gaseous diffusion and gas centrifuge, with significantly lower costs.

The company has an agreement with the United States Department of Energy to use its technology to enrich depleted uranium tails, repurpose legacy water into uranium, convert products to fuel nuclear reactors and assist in the responsible clean-up of enrichment facilities no longer in operation.

It plans to also deliver low-enriched uranium (LEU) fuel with better efficiency and flexibility than current enrichment technologies, and further intends to produce high-assay low-enriched uranium (HALEU), which is needed as the primary fuel stock for many small modular reactors (SMR) and advanced reactors designs.

“Nuclear power plays a massive role in the global clean energy equation,” said Cameco president and CEO Tim Gitzel in a press release. “That role will only increase in a carbon-constrained world, particularly with the momentum behind SMR and advanced reactor technologies, a focus on the electrification of transportation systems, and the many other innovations that countries and companies are counting on to help meet their emission reduction targets.”

According to Cameco, numerous milestones need to be reached before the technology can be fully commercialized. GLE is currently focusing on its uranium enrichment plant demonstration program, which – depending on budgets and funding – is estimated to be completed by the mid-2020s.

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