What's inside the Ux Weekly

July 27, 2015

Nuclear Fuel Fabrication: An Industry in Transition?
China starts construction on new reactor
South Korea’s Shin Wolsong 2 attains full commercial operation
China to construct two nuclear plants in Iran
CNEIC and Ukraine’s Nuclear Fuel sign MoU for nuclear fuel cooperation
France adopts “Energy Transition for Green Growth” bill
AREVA’s recapitalization plan slated for September 2015
Krsko receives 20-year life extension
Initial criticality reached at Fuqing Unit 2
SCE&G reports placement of CA01 module at V.C. Summer nuclear power plant
NNSA issues RFP for down-blending additional HEU
BHP Billiton reports Q2 uranium production
ERA writes down deferred tax assets
Sibanye reports 2015 half-year production
Peninsula submits wellfield data to NRC and WDEQ
Energy Fuels receives Hank ISR project approval
UPA elects Harry Anthony President
Skyharbour reports Falcon Point drilling
Russia no longer interested in Armenian U JV
India rejects new uranium mining projects
The Market
The industry's leading source of Publications, Data Services, and Consulting, on the Global Nuclear Fuel Cycle Markets
UMO

4th Annual Nuclear Energy Development Summit

40th Annual Symposium

UxC's Uranium Market Outlook (UMO) highlights recent developments and their impact on the market.

Each quarterly report, at over 130 pages, covers key supply and demand developments as well as the overall supply and demand situation, reviews spot and long-term contract activity over the past three months, provides a near-term technical analysis along with detailed spot market indicators, projects prices under different market scenarios with associated probabilities, and examines key developments in the market through a topical essay.

Also included are a review of recent market activity and a look a current and prospective activity, and a detailed listing of reactor and production developments that promise to shape the future market.

Uranium Suppliers Annual

Sometimes referred to as "The Uranium Bible", the Uranium Suppliers Annual contains comprehensive data and information on all of the world's uranium suppliers, including detailed sections on planned producers and junior/exploration companies.

Whether you are a utility, producer, trader, or investor, the Uranium Suppliers Annual provides the basis for understanding potential future developments surrounding the availability of supply, particularly since uranium production has continued to be sub-par against a backdrop of growing demand. In light of the increasing volatile nature of the uranium market, primary and potential suppliers are continuously re-evaluating their properties and future production plans, as well as expanding exploration programs where economically feasible.

Uranium Production Cost Study

The Uranium Production Cost Study complements UxC’s Uranium Market Outlook (UMO) and Uranium Supplier’s Annual (USA) in identifying where expanded and new uranium supply will come from among 116 worldwide projects to meet future nuclear fuel demand through 2030.

UxC's Conversion Market Outlook (CMO) details an often overlooked market.

Each bi-annual report, at over 120 pages, covers key supply and demand developments as well as the overall supply and demand situation, reviews spot and long-term contract activity over the past three months, provides a near-term technical analysis along with detailed spot market indicators, projects prices under different market scenarios with associated probabilities, and examines key developments in the market through a topical essay.

Also included are a review of recent market activity and a look a current and prospective activity, and a detailed listing of reactor and production developments that promise to shape the future market.

UxC's Enrichment Market Outlook (EMO) Covers a Dynamic and Key Segment of the Overall Nuclear Fuel Market.

Enrichment developments not only are important for understanding the enrichment market, but are also crucial for understanding the future progression of the uranium market. Since uranium and enrichment are substitutes, increases in enrichment supply can have a major impact on the future demand for uranium. Each quarterly report, at over 110 pages, covers key supply and demand developments as well as the overall supply and demand situation, reviews spot and long-term contract activity over the past three months, provides a near-term technical analysis along with detailed spot market indicators, projects prices under different market scenarios with associated probabilities, and examines key developments in the market through a topical essay.

Also included are a review of recent market activity and a look a current and prospective activity, and a detailed listing of reactor and production developments that promise to shape the future market.

UxC's Enrichment Suppliers Assessments (ESA)

USEC recently declared its intention to file for Chapter 11 bankruptcy and re-emerge as a leaner, new enrichment company. What will happen to the American Centrifuge Project (ACP)? Where will USEC find the funding for the ACP? How will the new USEC survive until an ACP plant can be built? These are just a few of the multitude of questions raised by the USEC bankruptcy announcement. UxC’s USEC Watch subscriber service follows all of USEC’s activities in depth and analyzes their consequences for the company and also for their impact on the enrichment market as a whole. Learn more about the ESA.

USEC Watch: Analysis of USEC Notice for Chapter 11 Bankruptcy

This report is focused on in-depth descriptions and analyses of the major uranium enrichment suppliers, their sources of Separative Work Units (SWUs) supply , and the enrichment technologies they employ. Details on each enricher include, among other items: Company history, Ownership & Organizational structure, Financial status & performance, Importance of enrichment to its overall business, Current and future sources of enrichment supplies, Market strategy, Client base and contract portfolio, and Direct impact of any trade restrictions on its enrichment business. Learn more about USEC Watch.

End of an Era: The HEU Agreement and Beyond

“End of an Era: The HEU Agreement and Beyond,” examines the HEU deal from an historical standpoint, and addresses the impact of the deal’s end on the parties to the deal and nuclear fuel market as a whole. In this regard, the essay takes a close look at the fate the Russian enrichment plants, Russia’s enrichment industry after the HEU Agreement, and the fate of USEC. Looking forward, we turn to examining the likelihood of follow-on to the HEU Agreement as well as the prospects for the SWU and uranium markets in the post-HEU era. Get more information.

UxC's Fabrication Market Outlook (FMO)

UxC and its consultant, Joel Gingold, with over forty years experience in the fuel fabrication industry, have prepared a comprehensive and up-to-date Fabrication Market Outlook (FMO) report addressing the commercial, economic, institutional, and technical aspects of this sector. Fabrication differs greatly from other steps in the fuel cycle. Its high technical content, need for regulatory approval, and the restriction of fuel assemblies to specific reactors require a unique approach to its analysis. To those with little knowledge of fuel fabrication and its markets, this report can serve as a primer providing a solid background and understanding of how its markets function. To those knowledgeable in the fundamentals, it offers analyses of a variety of its aspects based on several decades of participation. To those who are actively involved in the industry, it supplies additional insights to assist in the improvement of existing nuclear fuel programs and in the development of new ones.

UxC's Nuclear Grade Zirconium Alloy Market Outlook

UxC has prepared a new special report to provide an overview of the zirconium alloy market for the nuclear industry entitled Nuclear Grade Zirconium Alloy Market Outlook. Nuclear-grade zirconium alloys and products are used in the fabrication of fuel assemblies, which are used in the vast majority of nuclear reactor designs either currently operating, under construction, or planned around the world. As the nuclear renaissance takes hold in countries all over the globe, many questions about the international nuclear supply chain have arisen. The supply of nuclear-grade zirconium – from zircon mineral sand through the cladding and components used in finished fuel assemblies – has also not escaped this scrutiny. Therefore, the primary objective of this report is to factually and analytically approach the current and expected future direction of the nuclear-grade zirconium market to help formulate clear conclusions about how producers of fuel assemblies for nuclear reactors will obtain the necessary zirconium for their finished products.

UxC's Nuclear Power Outlook (NPO)

Each quarterly report, at over 200 pages, covers key supply and demand developments as well as the overall supply and demand situation, reviews spot and long-term contract activity over the past three months, provides a near-term technical analysis along with detailed spot market indicators, projects prices under different market scenarios with associated probabilities, and examines key developments in the market through a topical essay.

Also included are a review of recent market activity and a look a current and prospective activity, and a detailed listing of reactor and production developments that promise to shape the future market.

UxC Analyzes Reactor Technology

In March 2013, UxC issued a new special report on the SMR Market Outlook (SMO). This 450 page report provides comprehensive commercial and technical analysis of the overall SMR market and detailed reviews of the leading SMR designs in the world. The SMO report is the result of UxC’s continuing efforts to provide its global clients with insightful products and services in the SMR sector. It includes a global SMR market review along with a global outlook for SMR market developments as well as deployment forecasts to 2040.

In December 2010, UxC issued a groundbreaking special report on Small Modular Reactor Assessments (SMRA). This report’s objective is to provide technical, economic, and other commercial assessments of each of the SMR designs being developed in the world today. In addition, the report provides an in-depth discussion of the broader issues impacting SMRs, such as the keys to successful deployment for SMRs, comparisons with larger reactor technologies, specific applications for SMRs, and the broader issues facing potential customers for SMRs.

In August 2008, UxC completed a special report on Nuclear Reactor Technology Assessments. This in-depth study provides nuclear reactor technology assessments and overall evaluations of the major reactor designs currently available in the world. The decision of which reactor design to pursue is an extremely important one and must be based on many factors, such as the robustness of the technology, the constructability of the plant, the plant economics - both initial and operating, the type of fuel used, the ability to license and regulate, among a variety of other considerations.

UxC's SpentFUEL and StoreFUEL

UxC is not only expanding its geopolitical coverage of the market, but is also now covering more of the fuel cycle. In June 2007, UxC began to publish SpentFUEL and StoreFUEL, two leading newsletters dealing with the backend of the fuel cycle.

Both publications cover major fuel cycle and backend-related conferences in detail. In addition, UxC can advise clients in issues related to the back end of the fuel cycle, including profiles of utility spent fuel storage facilities and plans, country profiles, vendor profiles, etc.


Latest Headlines

Fact Sheet: President Obama to Announce Historic Carbon Pollution Standards for Power Plants
White House (Aug 3, 2015)
The White House issues a fact sheet regarding the new Clean Power Plan.
https://www.whitehouse.gov/the-press-office/2015/08/03/fact-sheet-president-obama-announce-historic-carbon-pollution-standards
U.S. nuclear operators try to save plants with carbon emission rule
Reuters (Jul 31, 2015)
NEI meets with White House officials to push for more support of nuclear plants in new EPA rules.
http://www.reuters.com/article/2015/07/31/us-usa-climatechange-cleanpowerplan-idUSKCN0Q52BR20150731
Slimmed-down Areva will need large capital increase-CEO
Reuters (Jul 30, 2015)
AREVA CEO anticipates that the capital increase might need to be beyond current finance plans.
http://www.reuters.com/article/2015/07/30/areva-capital-idUSL5N10A47I20150730
Tokyo Electric executives to be charged over Fukushima nuclear disaster
Reuters (Jul 31, 2015)
Civilian judiciary panel compelled prosecutors to indict former Tokyo Electric Power executives for Fukushima Daiichi disaster.
http://www.reuters.com/article/2015/07/31/japan-nuclear-prosecution-idUSL3N10B2KK20150731
EDF buys majority of Areva reactor unit, seeks partners
Reuters (Jul 28, 2015)
Article discusses the details of EDF's deal with AREVA.
http://www.reuters.com/article/2015/07/30/areva-ma-edf-idUSL5N10A10L20150730
EDF to buy majority stake in Areva's nuclear unit
MarketWatch (Jul 30, 2015)
EDF will buy between 51 percent and 75 percent of AREVA NP.
http://www.marketwatch.com/story/edf-to-buy-majority-stake-in-arevas-nuclear-unit-2015-07-30
Brazil Arrests Nuclear Chief in Widening of Graft Case
New York Times (Jul 28, 2015)
Brazilian police arrest Eletrobras Termonuclear SA's CEO on charges of corruption.
http://www.nytimes.com/2015/07/29/world/americas/brazil-arrests-nuclear-chief-in-widening-of-graft-case.html?_r=0
Big U.S. corporations commit to invest in clean energy, but not all of them buy Obama's Clean Power Plan
E&E Publishing (Jul 28, 2015)
Leaders of 13 major corporations pledge $140 billion in low-carbon investment.
http://www.eenews.net/stories/1060022510
China starts largest expansion of nuclear power in the world
Press Trust of India (Jul 25, 2015)
Construction of Hongyanhe unit 6 began on Friday.
http://www.dnaindia.com/world/report-china-starts-largest-expansion-of-nuclear-power-in-the-world-2107971
Vessel head for Haiyang 2
World Nuclear News (Jul 28, 2015)
The reactor pressure vessel head has been installed at Haiyang 2.
http://www.world-nuclear-news.org/NN-Vessel-head-for-Haiyang-2-2707157.html

Today's Lighter Side

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