US to offer $3.4 Billion for Nuclear Fuel🤑

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This is what we got for you this week:

• US to offer $3.4 Billion for Nuclear Fuel🤑

• Russia's Tenex Issues Force Majeure to US Utilities😳

• UK Targets 40,000 New Jobs in Nuclear Sector👷

• Dutch Coalition Adds Two Nuclear Reactors✌️

US to offer $3.4 Billion for Nuclear Fuel🤑

The US has announced they will solicit bids in June for up to $3.4 billion in contracts for domestically produced nuclear reactor fuel. This is the continuation of the effort to reduce dependence on Russian imports which currently supply about a quarter of the nation's reactor fuel. Following President Biden's ban on Russian uranium imports, $2.7 billion of funding has been allocated to revive the nation’s nuclear fuel production, currently limited to a single commercial facility in New Mexico, by direct acquisition of low-enriched uranium used in reactors.

Russia's Tenex Issues Force Majeure to US Utilities😳

In response to President Biden's ban on Russian uranium imports, Russia's state-owned uranium supplier, Tenex, has issued a force majeure notice to U.S. utilities. Tenex has given US utilities 60 days to secure a waiver from the White House to allow the continued import of Russian enriched uranium. By not doing so the utilities risk losing their priority for reactor fuel shipments, which typically require three to four months to complete. Tenex has expressed its intention to honor existing contracts, although Kremlin's actions remain uncertain.

UK Targets 40,000 New Jobs in Nuclear Sector👷

The UK has introduced a strategic plan to develop its nuclear workforce, targeting a 50% increase and the creation of 40,000 new jobs by 2030. The National Nuclear Strategic Plan for Skills, supported by the UK government, focuses on recruiting new talent and upskilling existing workers to enhance retention. The initiative aims to double the number of apprentices and graduates in the sector by 2025-26, with particular emphasis on trades like welding and engineering, and also enhances skills for mid-career entrants. This effort is part of the UK's broader ambition to become a global leader in nuclear energy, aligning with its goal to significantly expand nuclear power generation by 2050.

Dutch Coalition Adds Two Nuclear Reactors✌️

The incoming Dutch coalition government has committed to a substantial expansion of nuclear energy, emphasizing its plan to build four new nuclear reactors by 2040 to enhance national energy security and reduce reliance on foreign energy sources. This expansion includes the continuation of two reactors currently under construction and the initiation of two additional reactors, with a potential for multiple small reactors through public-private partnerships. Notably, a contract has been awarded to Westinghouse Electric Company to assess the feasibility of deploying two AP1000 reactors at the Borssele site, where the Netherlands' sole operational reactor has been producing electricity since 1973.

Nuclear Nuggets🧽

Nuclear industry brings back ‘silver tsunami’ of retirees. Older workers in demand as western companies prepare for biggest wave of new projects in decades.

The Olkiluoto-3 nuclear power plant in Finland returned to electricity production after a first annual service outage that lasted twice as long as planned.

The Authority for Nuclear Safety and Radiation Protection (ANVS) has granted the final permit to Urenco for the construction and operation of a new radioactive waste storage facility at its Almelo site.

Meme of the week🤣