What is really behind this?
Areva to spin off fuel business
22 June 2016
France's Areva is to spin off its nuclear-fuel operations this year, as New Co, to shield them from the financial difficulties facing the company's reactor business and to attract investors as Areva prepares to raise #$%$5bn ($5.6bn) by selling shares. The company said New Co would be created as a wholly-owned subsidiary of Areva SA during the second half of this year, combining the Areva Mines, Areva NC, Areva Projects and Areva Business Support companies and their respective subsidiaries. Part of Areva SA's debt would also be transferred to New Co. Meanwhile, Areva TA, Areva Renewable Energies and Areva NP will remain as subsidiaries of Areva SA "until the date of their sale". Areva will also sell nuclear measurement and instrumentation specialist Canberra.
New Co will target earnings before interest, taxes, depreciation and amortization of about 25% of sales and operating income of more than 10% by 2020, Areva said a statement. The combined business had an order backlog of #$%$33bn at the end of March, representing about eight years of revenue, Areva said. "New Co. has strong assets in terms of technology, backlog, skills and performance," Areva CEO Philippe Knoche said on a conference call with Bloomberg. "It will be very well placed for an expected rebound in demand, notably on international markets."
I honestly feel for you people here who invested in this, I believe you have been dudded?
Russia will be the first to recycle the Used Nuclear Fuel followed closely by the US IMHO.
Russia’s TVEL seeks to sell fuel assemblies to US
Russia Fuel Company TVEL (part of state nuclear corporation Rosatom) hopes that first pilot assemblies of Russian TVS-Kvadrat fuel will be loaded into a reactor in the US in 2018, TVEL vice president for commerce and international cooperation Oleg Grigoriev told journalists at the International Forum ATOMEXPO 2016 in Moscow on 30 May.
Full-scale manufacturing is expected to begin in 2020. This follows an agreement announced on 24 May between TVEL and Global Nuclear Fuel Americas (GNF-A) to work together to introduce Russian-designed pressurised water reactor fuel into the USA.
They plan to introduce lead use assemblies (LUAs) of TVEL's TVS-K fuel design in the USA and to seek licensing approval from the US Nuclear Regulatory Commission to supply the fuel in reload quantities. TVS-K is a 17x17-lattice PWR nuclear fuel assembly developed by TVEL for use in Westinghouse-designed 3- and 4-loop PWRs. It draws on TVEL's experience in the development, manufacture and operation of nuclear fuel for Russian-designed VVER-1000 reactors. Grigoriev told Atomexpo delegates that TVEL sees good prospects in the US market. "We hope that a share of commercial deliveries of TVS-Kvadrat will be more than 10% of the current US market volume for this type of fuel," he said.
GNF, a GE-led joint venture with Hitachi and Toshiba Corporation, operates primarily through GNF-A in Wilmington and Global Nuclear Fuel-Japan Co in Kurihama, Japan. Rosatom has since 1987 supplied the US with low-enriched uranium (LEU) that is then prepared for use in power plants. GNF hopes that US utilities would be able to use the TVS-K assemblies at about a third of the USA's 99 reactors.
The used REMIX fuel is then reprocessed and recycled again, after low-enriched uranium top up?
The bit above came from my last post, notice how it says the recycled fuel needs topping up with low enriched Uranium top up?
Just where do you reckon thast top up fuel will come from?
The reason why GLE are so keen on Paducah, is that it will supply two fuels not one, one will be the U238 for future fuel in fast breeder reactors like PRISM of the ESBWR, but there are also other technologies owned by other companies that are also fast breeder that could also use the U238 to make Plutonium for their reactors, the second fuel that GLE will get from Paducah, is the Natural Uranium in the form of UF6, it won't be sold in the market like the DoE say, that is BS in my opinion, in fact I know it is, I believe it will be leased to GLE or whoever the reload fuel is destined for? they will use this recovered Uranium from the Tails at Paducah as top up fuel for the recycling of the UNF in much the same way as the Russians are doing.
This is what the TVEL fuel rods will be fuelled with initially IMHO and then US recycled UNF after a while when Wilmington is finished.
Russia’s REMIX fuel will enable closed fuel cycle
7 June 2016
Russia's Siberian Chemical Combine (SCC) has fabricated experimental fuel rods with REMIX fuel at its chemical metallurgical plant, the company said. The REMIX (regenerated mixture) fuel was developed by the VG Khlopin Radium Institute in St Petersburg for Techsnadexport (Tenex), the nuclear materials trading arm of state nuclear corporation Rosatom.
REMIX fuel is produced directly from a non-separated mix of recycled uranium and plutonium from reprocessing used fuel, with a low-enriched uranium (LEU, up to 17% U-235) make-up comprising about 20% of the mix. This gives fuel initially with about 1% Pu-239 and 4% U-235 which can sustain burn-up of 50 GWd/t over four years. The used REMIX fuel is then reprocessed and recycled again, after low-enriched uranium top up. The wastes (fission products and minor actinides) are vitrified, as today from reprocessing for MOX, and stored for geological disposal. REMIX-fuel can be repeatedly recycled with 100% core load in current VVER-1000 reactors, and correspondingly reprocessed many times - up to five times according to Tenex, so that with less than three fuel loads in circulation a reactor could run for 60 years using the same fuel, with LEU recharge and waste removal on each cycle.
The SCC's chemical metallurgical plant has installed contact butt welding machines to make the fuel rods. The machines ensure required radiation safety level for the working personnel and plant's infrastructure. "During the acceptance tests, the fuel rods were checked for leak-tightness. Also, non-destructive examination of the weld, position of the fuel column and components inside a fuel rod, as well as destructive testing for helium content inside the fuel rods, were carried out, an SCC's statement said. Evgeny Lachkanov, head of a project at SCC
This is connected to my last post, this is what GE said, I reckon GNF will use Russian recycled fuel to start with and then use their own recycled fuel when they have their own facility up and running at Wilmington which is based on the Silex system.
Global Nuclear Fuel and TVEL Sign Agreement to Fuel U.S. Pressurized Water Reactors
WILMINGTON, NC—May 24, 2016—Global Nuclear Fuel-Americas (GNF-A) and TVEL Fuel Company today announced an agreement to work together toward the licensing, marketing and fabrication of fuel for U.S. customers operating Pressurized Water Reactors (PWRs). Under the agreement, GNF-A and TVEL will form a strategic alliance with the purpose of introducing lead use assemblies (LUAs) of the Russian TVS-K fuel design in the U.S. and seeking licensing approval from the U.S. Nuclear Regulatory Commission to supply the fuel in reload quantities.
Within the alliance, GNF-A will provide U.S.-based project management, licensing, quality assurance and engineering services while TVEL will provide TVS-K design expertise, engineering support and initial fabrication of lead use assemblies. Subsequent LUAs are planned to be produced at GNF-A’s Wilmington N.C. facility.
“U.S. Pressurized Water Reactor operators are looking for additional competition and choice,” said Lance Hall, Executive Vice President, Nuclear Fuels and Services, GE Hitachi Nuclear Energy (GEH). “We are in discussion with several customers regarding lead use assemblies and how this alliance will bring increased choice to the industry.”
“We are glad to have aligned with such a globally renowned company as GNF-A to promote our fuel,” said Oleg Grigoryev, Vice President, Commerce and International Cooperation, TVEL. “We feel confident this project will bring enhanced competition and choice in the U.S. Pressurized Water Reactor fuel market and help U.S. utilities meet their future objectives.”