tenex or “techsnabexport”

where does exelon get its uranium from?



June 1, 2009 Edinburgh (Scotland). Joint stock company «Techsnabexport» (TENEX) and Exelon Generation Company LLC signed a long-term contract for supply of Enriched Uranium Product (EUP). The contract allows Exelon — the largest US utility to have direct supplies for the period of 2014-2020 from one of today’s most reliable sources of enrichment services i.e. TENEX. Enriched uranium product deliveries will be provided from any of the four Russian enrichment plants equipped with leading edge centrifuges and are supported by the strong engineering and technological potential of the Russian enrichment industry.

This signing follows suit first uranium deals signed last week in Moscow between Tenex and Fuelco group and after the conclusion of the Amendment to the Russian Suspension Agreement in 2008 allowing Russian front-end nuclear fuel cycle products and services free and legitimate entrance into the US market.




Russian, U.S. firms sign $1 bln low-enriched uranium supply deal

MOSCOW, May 26 (RIA Novosti) – Russia’s Techsnabexport and three U.S. companies affiliated with the FuelCo Group signed on Tuesday three long-term low-enriched uranium supply contracts.

“The contracts are worth $1 billion,” said Sergei Kiriyenko, head of the Rosatom state-controlled nuclear corporation.

Under the contracts, enriched uranium will be supplied directly to the U.S. companies from 2014 through 2020.

Kiriyenko also said Russia was ready to discuss the establishment of a low-enriched uranium storage facility in the U.S. to ensure long-term supplies to consumers.

He added that the U.S. companies were interested in signing a relevant agreement and that talks would begin without delay.

Earlier this month, Russia and the United States signed an agreement on civilian nuclear cooperation.

Russia and the U.S. also cooperate in the nuclear sphere on the HEU-LEU project. The HEU-LEU contract, also known as the Megatons to Megawatts agreement, was signed in February 1993 and expires in 2013.

It aims to convert 500 metric tons of highly-enriched uranium (HEU), the equivalent of approximately 20,000 nuclear warheads, from dismantled Russian nuclear weapons into low-enriched uranium (LEU), which is then converted into nuclear fuel for use in U.S. commercial reactors.

In April, Techsnabexport shipped the first batch of low-enriched uranium to the United States under a bilateral agreement.

Techsnabexport, a Russian company that exports goods and services produced by the nuclear power sector, is integrated into Atomenergoprom.




Published: 12th June 2009

Russian specialist nuclear 
fuel exporter Techsnab-export – better known by its brand name of Tenex – has, in just over a week, won contracts to directly supply low-enriched uranium to four US nuclear power utilities. The latest contract, signed last week, is with the Exelon Corporation, which is one of the largest electricity producers in the US, with a production capacity of 25 000 MW (of which, 17 000 MW comes from nuclear plants) plus control of another 
6 500 MW through long-term contracts.

During the last week of May, the Russian company signed a contract with FuelCo, which represents the interests of three US utilities, PG&E, Union Electric and Luminant. All three will use low-enriched uranium supplied by Tenex to fuel their nuclear 

Although the value of the Exelon deal has not been revealed, the FuelCo deal is worth more than $1-billion. All these deals 
involve long-term contracts and all will run from 2014 to 2020.

“We have broken through the wall forbidding us to sell Russian fuel to the American market,” enthused Rosatom head Sergei Kiriyenko on the occasion of the signing of the FuelCo contract. (Tenex is wholly owned subsidiary of Atomenergoprom, which, in turn, is a subisidiary of the Rosatom State Atomic Energy Corporation, which is owned by the Russian state.)

This breakthrough into the US market was the result of a relaxtion of US antidumping regulations last year. Previously, Russia could only sell uranium in the US, 
which had been recovered from dismantled nuclear weapons, under a programme designated Megatons to Megawatts.

Now, Tenex has set itself the goal of capturing 20% to 25% of the US uranium market by 2019. Analysts are forecasting that US uranium prices will fall as more and more of the Russian fuel 
becomes available on the market.

This expansion into the US is part of Rosatom’s strategy of global expansion. Earlier this year, Atomenergoprom (full name: Atomny Energopromyshleny Kompleks OJSC) signed cooper-
ation deals with Toshiba, of Japan, and Siemens, of Germany. Tenex also recently concluded a $100-million deal with Japanese utility Chubu to supply the latter with low-enriched uranium for ten years, from 2012 to 2022. The Russian group now has business relationships and alliances that embrace the US, Western Europe and Japan.

Also last week, Kiriyenko 
announced that Atomenergoprom plans to issue rouble bonds worth 100-billion roubles ($3,25-billion) to fund its global expansion. 
In late May, he reported that Russia has 575 000 t of recoverable 
uranium reserves and 875 000 t 
of proven reserves, plus a secret stockpile of the energy metal. Russia now ranks second in the 
world in terms of uranium reserves and fifth in terms of production.

Atomenergoprom wants to 
increase its share in the wider 
nuclear industry (including reactor construction), company executive 
director Kirill Komarov said at the end of last month. The company is responsible for 17% of world 
nuclear fuel production, 8% of global uranium-mining, and 28% of new nuclear power plant construction (with ten reactors now being built). Regarding uranium enrichment services, it has 40% of the world market, with its nearest rival having about 20%.

Atomenergoprom produces low-enriched uranium at four plants in Russia, one each in the regions of Irkutsk, Krasnoyarsk, Tomsk 
and Sverdlovsk. Two of these were established as early as 1949.

It is the low-enriched uranium produced by these plants that Tenex markets internationally. At the start of this year, Tenex’s contract portfolio was worth $11-billion. In 2008, the com-
pany’s exports amounted to $3-billion, with 52% going to Europe, 33% to the US, and 15% to Asia and Africa.




from: http://www.minatom.ru/en/news/15438_03.06.2009


Tenex and Exelon have signed a long-term contract for the supply of enriched uranium

Techsnabexport OJSC (Tenex) (100% subsidiary of Atomenergoprom OJSC) and Exelon Generation LLC (the United States) have signed a long-term contract for the supply of enriched uranium. The parties have agreed that in 2014–2020 Tenex, one of the most reliable suppliers in the world, will directly supply uranium products to the biggest power company of the United States, Eleron.

This is one more enriched uranium supply contract signed with a US company after the adoption of an Amendment to the Agreement Suspending the Antidumping Investigation on Uranium from the Russian Federation allowing direct supply of Russian uranium products and services to the United States. Last week during Atomexpo 2009 forum Tenex signed similar contracts with three Fuelco LLC companies.

Exelon Generation Company is a subsidiary of Exelon Corporation, is one of the largest electric wholesale and retail power generation companies in the US. Exelon Generation has a generation capacity of about 25,000 MW (including 17,000 MW of nuclear-generated power, through Exelon Nuclear, and 8,000 MW of fossil-fired and hydroelectric power, through Exelon Power). It also controls another 6,500 MW through long-term contracts. A third unit, Exelon Power Team, sells electricity produced at Exelon Generation’s plants through long and short term contracts.

JSC «Techsnabexport» — brand name TENEX — is Open Joint Stock Company with 100 per cent shares held by the JSC «Atomenergoprom» — integrated company in the civilian sector of Russian nuclear industry. For 45 years it has carried out faultless activities at the world market, management and highly skilled employees. Tenex is the world’s largest exporter of products and services of the Russian nuclear fuel cycle with a substantial share in the industry’s total foreign trade turnover. It delivers Russian uranium products to meet reactor requirements of NPP’s in the USA — 40 per cent, Western Europe -23 per cent, Asian and Pacific Region -16 per cent. Tenex is Executive Agent under Russian-US government-to-government Agreement on deliveries to the USA of low-enriched uranium downblended from highly enriched uranium extracted from dismantled warheads (HEU-LEU Agreement). The Company operates in the high-tech sector and making investments in core facilities in the nuclear industry and machine building manufacturing high-tech equipment and components for Russian isotope separation plants. Tenex is dynamically developing Company playing a leading role in creating a competitive environment, establishing market place mechanisms and mastering new markets.

Atomenergoprom OJSC (Atomny Energopromyshleny Kompleks) is a state holding that is supposed to comprise 89 nuclear companies and to cover the whole range of nuclear services: from uranium mining to NPP construction and electricity production. Atomenergoprom’s companies will have a total of 175,000 employees and an annual production of 200bln RUR (5.5bln EUR). Atomenergoprom is one of the biggest players on the world market: it has a 40% share in the world’s uranium enrichment services, 17% in nuclear fuel production, 8% in uranium mining, 28% in NPP construction (10 reactors). The director of Atomenergoprom is Vladimir Travin, the chairman of the board of directors – Sergey Kiriyenko.




from: http://www.tenex.ru/press/events/?id=249
translated with help from GOOGLE

JSC «Techsnabexport» and the company Exelon (United States) have signed a long-term contract for the supply of enriched uranium

← Ctrl →
26 May 26 June
Press release dated June 2, 2009

In the course of the International Association «The World Nuclear Fuel Market» (WNFM) in Edinburgh JSC «Techsnabexport» and the company Exelon (United States) have signed a long-term contract for the supply of enriched uranium.
June 01, 2009 Edinburgh (Scotland). Open Joint Stock Company «Techsnabexport» (TENEX) and Exelon Generation Company LLC (United States) have signed a long-term contract for the supply of enriched uranium product (GMS). Contracts allow for direct deliveries of uranium products and services from one of the most reliable to date in the world of suppliers «Techsnabexport» to the largest U.S. utility Exelon during the 2014-2020 biennium.
Signing a contract with Exelon was followed by the conclusion in Moscow, the first commercial supply contracts in the United States of Russian enriched uranium between OJSC «Techsnabexport» and the three American companies group Fuelco LLC. This became possible after the signing of the 2008 Amendments to the Agreement on suspension of antidumping investigations (SPAR) by making commercial exports of Russian uranium products and services in the United States.
The company Exelon, through its subsidiary of Exelon Generation, owns and operates one of the largest energy portfolios in the United States – about 33 gigawatts (GW) of electricity from low cost production. Exelon Generation of electricity produced in co-generation plants, hydroelectric power stations, nuclear power plants and stations with renewable energy.
Atomic unit of Exelon Nuclear operates the largest fleet of power plants in the United States and the third nuclear power plant fleet in the world. 17 reactors at 10 nuclear power plants Exelon for about 20% of U.S. nuclear generation and about 3% of the total electricity the United States.





translated by GOOGLE


The nuclear fuel cycle (NFC) – a sequence of technological processes designed to produce electricity through nuclear reactions.
NFC begins with the extraction of uranium ores and ends with the disposal of nuclear waste. In addition to mining and processing uranium ore, nuclear fuel cycle includes the conversion and enrichment of natural uranium, fabricate fuel assemblies, the production of electricity by nuclear power plants, treatment of irradiated nuclear fuel, including reprocessing, radioactive waste (conditioning, disposal).
The main activity of JSC «Techsnabexport» relates to the delivery of outsourced services market to convert and enrich uranium, and enriched uranium production, which is required for the production of natural uranium, conversion and enrichment.







uranium mines TENEX
from: http://www.wise-uranium.org/upkz.html

Zarechnoye ISL project

> View deposit info
Uranium production at Zarechnoye starts on December 7, 2006. (RIA Novosti Dec. 7, 2006)

On June 22, 2006, Tekhsnabexport and the Russian-Kazakh-Kyrgyz uranium mining venture Zarechnoye signed a contract which presupposes supplies of $1 billion worth of uranium between now and 2022. Zarechnoye is planning to produce the first batch of uranium in the third quarter of 2006. Under the contract, the first shipment of uranium will be dispatched to Russia in January 2007.
Zarechnoye JV design capacity totals 1,000 tons of uranium a year, which will be hit in 2009. Estimated deposited resources at the field operator Zarechnoye JV totals 19,000 tons of uranium. The key owners are Tekhsnabexport and Kazatomprom, which hold 49.3 percent each. In addition, the Russian-based Atompredemtzoloto and Kyrgyz Kara-Baltin each hold 0.7 percent. The total investment of all participants into the joint venture development totals $60 million.
It is expected that uranium production and Kazakhstan’s uranium supply to Russia will increase by up to 6,000 tons a year. (Mosnews 22 June 2006)

The Zarechnoye project will start producing uranium at the end of 2006, Russia’s nuclear services export company Techsnabexport said. (RIA Novosti May 15, 2006)

Startup of uranium production at the Zarechnoye mine has been deferred to April or May 2006, instead of the previously announced summer 2005. Zarechnoye’s director general Yuri Demekhov said the plans had been changed because the company had to stop construction activities to respect wishes of the local authorities and hunting experts who were against mining the deposit. He said that construction work at the mine only started June 2005 and that currently some 20% of the total construction work has been implemented at the property. (WNA News Briefing 05.33, Aug. 23, 2005)

Construction of the Zarechnoye in-situ leach uranium mine in Southern Kazakhstan has begun. Commercial production is scheduled to begin towards the end of the year 2005. The design capacity is 500 tonnes of uranium per year. Part of the pre-concentrates recovered from the mine will be sent to the Kyrgyz Kara-Balta mill for processing. (Kazakhstan today, Apr 21, 2004)

A renewed structure of the Joint Venture was announced as follows: Kazatomprom (Kazakhstan) – 45%; TVEL (Russia) – 20%, Techsnabexport (Russia) – 15%, Atomredmetzoloto (Russia) – 10%; and Kara-Balta (Kyrgyzstan) – 10%. (Kazatomprom Oct. 1, 2003)

Russia will provide $14.5 million for the construction of the Zarechnoye uranium mine in Kazakhstan, due to begin in 2004. The mine is due to go on stream by the end of 2005, when it should attain projected capacity of 500 tonnes of yellowcake, a spokesman for Kazatomprom, Kazakhstan’s national nuclear concern, said. (Interfax Sep. 30, 2003)

The Zarechnoye joint venture, as the company will be called, will have a charter capital of US$ 30,000. Kazatomprom will own 45 per cent, Russia’s Atomredmetzoloto 45 per cent and Kara Balta 10 per cent of the equity.
The Zarechnoye joint venture might produce about 500 tonnes of uranium concentrate per year in the next few years. A pre-feasibility study sets the cost of mining the Zarechnoye deposit at $8 million.
The deposit contains a proven 14,500 tonnes and probable 4,500 tonnes of uranium. (BBC/Interfax Oct. 10, 2001)

Russia, Kazakhstan and Kyrgystan have agreed to a joint venture to develop the Zarechnoye uranium deposit in western Kazakhstan, scheduled to be commissioned either later in 2001 or in early 2002. Uranium from the deposit will be processed at the Kara Balta Mining Co. An estimated 700 tonnes U3O8 will be produced annually from the project. (WNA News Briefing 01.33, August 15, 2001)

Kazakhstan, Kyrgyzstan and Russia will reportedly form a joint venture to exploit the Zarechnoye uranium deposit in western Kazakhstan. The Kara Balta uranium refining plant in Kyrgyzstan is said to have reached a related agreement on co-founding the joint venture. The Kara Balta facility has reportedly been refining up to 450 tU (530.7 tonnes U3O8) annually supplied from Kazakhstan. Uranium from the Zarechnoye deposit will be used to supply Russian nuclear power stations and therefore the Russian supplier Atomredmedzoloto is expected to participate in the project. (UI News Briefing 00.35, August 30, 2000)

A Kyrgyz-Kazakh-Russian joint venture to double the processing of uranium concentrates from Kazakh deposits at the Kara Balta processing complex in Kyrgyzstan is expected to start up in 2001. The Kara Balta plant currently processes about 450 tU3O8 (382 tU) per year, about 30-35% of its full capacity. (UI News Briefing 00.42, Oct. 18, 2000)

A joint venture to mine and process uranium from the Zarechnoye uranium deposit will be established during the first quarter of 2001. The joint venture – between Russia, Kazakhstan and Kyrgyzstan – would mine at Zarechnoye using the in-situ leach (ISL) method and produce up to 500 tonnes U3O8 (424 tU) annually. Milling of the uranium will take place at the Kara Balta mill in Kyrgyzstan, which is expected to produce at least 350 tonnes U3O8 (297 tU) annually for the joint venture. The initial stage of a mining and milling complex at Zarechnoye is expected to come online in 2002. (UI News Briefing 00.51, Dec. 20, 2000)





Russia considers mining uranium in Bulgaria

Russia is considering mining uranium in Bulgaria after its nuclear services exporter won a tender to build a power plant outside Sofia, a senior nuclear official said on Nov. 8, 2006. Russia’s newly-formed uranium production company will study the issue.
“If the recently established Uranium Mining Company carries out the economic study together with Bulgarian colleagues, and uranium production proves to be economically attractive, the project will be launched,” said Pyotr Lavrenyuk, vice president of Russia’s nuclear fuel producer and supplier TVEL. The TVEL company and the state-owned uranium trader Tekhsnabexport (Tenex) merged into the Uranium Mining Company on November 2, 2006, to develop uranium deposits inside and outside Russia, and import uranium. The TVEL official said the company already imported uranium from other east European countries, including the Czech Republic. (RIAN Nov. 8, 2006)

Techsnabexport , Russia’s state-owned nuclear fuel maker, will meet BHP Billiton and Rio Tinto executives as part of an attempt to import uranium from Australia. The company, known as Tenex, supplies reactor operators worldwide, many of which buy Australian uranium. The lack of an export agreement between Australia and Russia barred those customers from having the material enriched and converted to fuel in Russia, Tenex director-general Vladimir Smirnov said. Tenex is seeking new supplies of uranium to help fuel new power plants Russia plans to build by 2015, and to supply customers it has in Europe, Japan and South Korea. (The Age, Oct. 18, 2006)

Russia’s Tenex seeks participation in Olympic Dam uranium mine expansion project

Russia’s Techsnabexport (Tenex) is negotiating with BHP Billiton for a role in the development of Olympic Dam, the world’s biggest uranium project, in Australia, Vadim Zhivov, the company’s first deputy general director, told a press conference in Moscow. The next round of talks with BHP Billiton is planned in January 2007. (Itar-Tass Dec. 15, 2006)

Areva signs technology transfer agreement with Tenex for depleted uranium hexafluoride de-conversion

AREVA and the Russian company TENEX signed a technology transfer agreement worth 50 million Euro for the construction of a uranium defluorination plant in Siberia.
This transfer includes the design of the installation, equipment supply, supervision of erection and testing and training in operation and maintenance. AREVA will follow the contract to the end in 2009.
AREVA currently owns the only such plant in the world. Situated on the Pierrelatte site in the Drôme region of France, it has been transforming depleted uranium hexafluoride into U3O8, since 1984. (Areva May 2, 2005)

Tails upgrading: world’s largest uranium “mine”?

“Minatom/Tenex has an estimated 9-million SWU/year of enrichment production capacity in excess of Russia’s needs. If Russia uses the 9-million SWU to strip tails from Urenco and other Western enrichers with 0.30% uranium-235 to 0.20% U-235, it would produce 29 million lb of uranium oxide (U3O8) (11,180 tonnes U) per year. It is likely, according to George White, a consultant with Uranium Exchange Co., the Russians have contracted with Urenco to strip tails from 0.3% to 0.25% U-235. But then the Russians probably stripped the tails further, to 0.12 U-235, to produce uranium for their own account and selling it, White suggested. Stripping of uranium tails in this way would reduce the need for natural uranium by about 30%.” (WISE NEWS COMMUNIQUE 502, November 13, 1998)
If Russia used its excess 9 million SWU/year to strip Urenco’s tails in the described way from 0.3% to 0.12% U-235, 7290 tonnes/year of uranium of natural isotope composition would be recovered, 4680 tonnes of which on Russia’s own account.


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