NRC ISSUES LICENSE TO INTERNATIONAL ISOTOPES FOR DECONVERSION FACILITY

After more than two years of review, the Nuclear Regulatory Commission yesterday gave final construction license for International Isotopes’ depleted uranium deconversion and fluorine extraction facility. The final Environmental Impact Statement was published Aug. 31, and the Safety Evaluation Report approval was issued in May. INIS applied on Dec. 30, 2009 for a license to construct and operate the facility in Lea County, N.M. The plant, which will be subject to NRC inspections during construction and operation, is the first major deconversion facility licensed by the NRC to recover fluoride products for commercial sale. Including the second quarter of 2012, INIS estimates it has spent $18 million thus far getting the deconversion facility approved. The promising regulatory action allowed the company to secure a $3 million private placement in July to put toward completing the approval process, and the company hopes that with the final approval in hand it can secure further financing for the project.