Shares of USEC Inc. (USU) Move Into Positive Territory After Company Finished Cleanup of Technetium-Contaminated Uranium Inventories
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Shares of USEC Inc. (NYSE: USU) move into positive territory after the company announced it has finished the cleanup of its technetium-contaminated uranium inventories this month. The 7,434 metric tons (MT) of uranium cleaned were part of an inventory of natural uranium transferred to the Company by the U.S. Department of Energy (DOE) prior to USEC's privatization.
USEC's cleanup project began in 2002 and was completed within budget and more than two months ahead of schedule. USEC developed the process in the late 1990s and spent about 12 months perfecting it over 2002 to 2003. The process works by liquefying uranium hexafluoride contaminated with technetium and passing it through a trapping media that removes the technetium.
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