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Romania’s Nuclearelectrica establishes uranium processing branch

Romania’s Nuclearelectrica establishes uranium processing branch CNU's Feldioara Branch Source: CNU website

BUCHAREST (Romania), September 27 (SeeNews) - Nuclearelectrica [BSE:SNN], the operator of Romania's sole nuclear power plant (NPP) Cernavoda, said it has established its own uranium concentrate processing branch.

The new Uranium Concentrate Processing Factory-Feldioara will have the processing of nuclear fuels as its main line of business, Nuclearelectrica said in a statement filed with the Bucharest Stock Exchange, BVB, on Friday.

Nuclearelectrica acquired some assets within the uranium concentrate processing line at the Feldioara Branch owned by the National Uranium Company, CNU, in March 2020.

Through its investment, Nuclearelectrica aims to provide the necessary infrastructure for the optimal processing of raw materials, as well as to maintain and consolidate an integrated fuel cycle in order to support its long-term investment projects. These strategic decisions give the company a competitive advantage and an integrated approach to nuclear energy production, Nuclearelectrica explained.

Liquidated in March, CNU was the only company that managed the existing uranium mineral resources in Romania and carried out geological research and exploitation of uranium deposits, ore preparation and refining of concentrates, as well as their transport and trade.

The Cernavoda NPP located in southeastern Romania operates two reactors of 700 megawatts each, which meet roughly a fifth of the country's electricity needs. The energy ministry owns a 82.49% stake in Nuclearelectrica.

Nuclearelectrica's shares traded 8.86% higher at 38.1 lei ($9/ 7.7 euro) by 1337 CET on Monday on the BVB.

(1 euro = 4.9488 Romanian lei)