International Isotopes, DOE Enter Cobalt-60 Irradiation Agreement

International Isotopes has entered into an agreement with the Department of Energy to use its Advanced Test Reactor at the Idaho National Laboratory for the irradiation of cobalt targets for the production of cobalt-60, according to a Securities and Exchange Commission filing yesterday. The agreement allows the company to use the reactor for the next 10 years at a fixed price for all cobalt material from the ATR, with an annual 5% escalation in price, the filing said. The agreement began on Oct. 1, and it has an end date of Sept. 20, 2014. International Isotopes can opt out of the agreement, though, at any time upon 180 days’ advanced written notice to DOE. Terms of the deal are unknown , and International Isotopes could not be reached comment yesterday.