ITC to retain agreement barring Russian uranium dumping: USEC

Washington (Platts)--18Jul2006

USEC, the sole US producer of enriched uranium for nuclear power plants,
said the US International Trade Commission on Tuesday ruled that terminating
an antidumping suspension agreement that limits imports of Russian uranium
products would materially injure the US uranium industry.

USEC said the ITC ruled in a 4-1 decision that lifting the 1992 Russian
suspension agreement would likely cause material injury to domestic producers
that include USEC, ConverDyn, the only US uranium converter, and Power
Resources and Crow Butte Resources, the two largest uranium mining companies
in the country.

The decision complements a May 31 ruling by the US Department of Commerce
that found dumping of Russian uranium products would likely recur if the
Russian suspension agreement were terminated. ITC and Commerce analyzed the US
uranium market as part of a "sunset review" of the Russian suspension
agreement conducted every five years, USEC said.

"We're pleased that the US government agrees that lifting the agreement
that limits Russia uranium imports would undermine the domestic production of
enriched uranium and the deployment of new uranium enrichment capacity," USEC
President and CEO John Welch said.

"Today's International Trade Commission ruling is an important step in
maintaining a stable nuclear fuel market, which the United States needs in
order to invest in advanced uranium enrichment technologies and build new
domestic uranium enrichment facilities that will help fuel this country's
nuclear renaissance," Welch added.

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