KEPCO looking for an enrichment plant in US KEPCO can earn-in up to 40% of the Gas Hill by spending over $32 million over 3 years. Their interest in buying a uranium enrichment plant in US is a very positive development for STM
KEPCO/Urenco in talks for stake in U.S. uranium plant
Author: Meeyoung Cho
Posted: Wednesday , 21 Nov 2012
SEOUL (Reuters) -
South Korea’s Korea Electric Power Corp (KEPCO) is in talks with UK-based uranium-enrichment company Urenco to buy a stake in a U.S. uranium enrichment plant from Urenco, government and industry sources said on Wednesday.
The size of the planned investment was not disclosed, the sources who had direct knowledge of the planned deal said.
The aim is to build a stable uranium supply for South Korea, which, under a treaty with the United States, cannot reprocess spent nuclear fuel for fear of exacerbating tensions with North Korea.
South Korea, Asia’s fourth-largest economy, depends heavily on oil and gas imports, but has 23 nuclear reactors that supply a third of its power. The country plans to add 11 more by 2024.