International Isotopes Inc. Announces Selection of the Site for the Planned Uranium Processing and Fluorine Extraction Facility
“We are very excited about the prospect of building this facility and conducting business in
“We intend to operate this facility in a safe, environmentally responsible manner and to maintain an open, honest relationship with the community. International Isotopes Inc. will strive to become a valued member and contributor to the region and the state,” continued Laflin.
INIS had previously reported narrowing its site selection study to locations in
“We looked at three communities which were all intensely interested and which strongly competed for this project. We found broad support for the project in each of these communities and many unique and positive attributes of each community that made this site selection process very difficult,” concluded Laflin. “New Mexico is very excited that International Isotopes has decided to locate in
The new facility will consist of both depleted uranium de-conversion and fluorine gas extraction processes. INIS holds patents that give it exclusive rights to the Fluorine Extraction Process (FEP), which produces high value, high purity gases in conjunction with uranium de-conversion and provides a key commercial advantage to the de-conversion project. To our knowledge, there are currently no operating de-conversion facilities for depleted uranium anywhere in the world. INIS expects to hire about 150 construction workers for the project and begin building the facility in 2011, after Nuclear Regulatory Commission licensing is complete. INIS expects to employ a full time staff of approximately 130 to 150 employees for plant operations. The plant is expected to have an initial de-conversion capacity equivalent to processing approximately 575 deleted UF6 tails cylinders per year. Those cylinders are expected to come from one or more enrichment companies in the U.S. and INIS will charge for this de-conversion service. The end products of the de-conversion process will be high purity, anhydrous hydrofluoric acid (HF) and silicon tetrafluoride gas. Both of those products are in demand for a wide range of industrial manufacturing applications.
Laflin also pointed out that, although the
INIS continues to caution that it will need to raise significant additional capital to complete these projects. Given current market conditions, there can be no guarantee the capital will be available, or available under acceptable terms. However, INIS is currently evaluating several paths to raise the capital that will be necessary for the project including agreements with companies that have interests in either enrichment or procurement of the products of uranium de-conversion and fluorine extraction.
About International Isotopes Inc.
International Isotopes Inc. manufactures a full range of nuclear medicine calibration and reference standards, high purity fluoride gases, and a variety of cobalt-60 products such as teletherapy sources. The Company also provides a wide selection of radioisotopes and radiochemicals for medical devices, calibration, clinical research, life sciences, and industrial applications and provides a host of analytical, measurement, recycling, and processing services on a contract basis to clients.
International Isotopes Inc. Safe Harbor Statement
Certain statements in this press release are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including the statements with respect to the Company’s goals with respect to; incorporating best available technology, use of resources for construction and operation of this facility, FEP providing key commercial advantages to the de-conversion project, plans to expand existing
For more information, visit our web site at www.intisoid.com
For More Information, Contact: Steve Laflin, President and CEO (208) 524-5300
SOURCE International Isotopes Inc.