Ukrainian state company Nuclear Fuel (Kyiv) has completed the acquisition of 10% shares in the International Uranium Enrichment Center in Angarsk (Irkutsk region, Russia) and became its shareholder on October 5, the Ukrainian company said on Wednesday.
"Following the agreement (in the form of an exchange of notes) between the Ukrainian Cabinet of Ministers and the governments of the Russian Federation and the Republic of Kazakhstan, regarding the participation in the International Uranium Enrichment Center, Nuclear Fuel acquired shares in the International Uranium Enrichment Center and has become its shareholder as of October 5, 2010," the company said.
Very soon Nuclear Fuel plans to agree upon a procedure for acquiring uranium-enrichment services through the IUEC.
It was reported that in November 2008 the Ukrainian Cabinet approved a draft agreement (in the form of an exchange of notes) with Russia and Kazakhstan on joint participation in the IUEC. The proposal was approved by the Russian government in February 2009 and by Kazakhstan in December 2009.
The IUEC was founded by Russia and Kazakhstan around the Angarsk Electrolysis and Chemical Plant (Irkutsk region). Another candidate for joining the IUEC is Armenia.
The key goal of the Center is to provide non-nuclear states with guaranteed access to enriched uranium which can be used as fuel by nuclear power plants. Apart from enriching uranium for the nuclear power industry, the IUEC will also manage guaranteed stocks of low-enriched uranium, the so-called "fuel bank."
