Jeremy L. Dillon
RW Monitor
7/10/2015
International Isotopes and the Lea County Board of Commissioners have agreed to amend the parameters of its depleted uranium de-conversion facility land agreement so as to allow for the company’s delays in construction, the two announced yesterday. Under the terms of the agreement, Lea County would convey 640 acres of land in Hobbs, N.M. for the construction of the facility, contingent upon construction of the facility beginning by Dec.31, 2014 and hiring a certain number of employees by Dec. 31, 2015. International Isotopes, though, had to suspend construction activities, the company announced in 2013, after it could not secure enough contracts to warrant construction. This amended agreement allows for this suspension by pushing the milestone dates to Dec. 31, 2016 and Dec. 31, 2017, respectively. “The Lea County Board of Commissioners has been very accommodating and welcoming from the time we first approached them about this project, and they are one of the reasons we chose Lea County for the location of our proposed de-conversion facility,” International Isotope President and CEO Steve Laflin said in a statement. “We are appreciative of their understanding regarding the delay we have experienced commencing construction of the facility which has been largely due to the slowdown in nuclear related projects.”
Although International Isotopes has had to place its proposed uranium de-conversion largely on hold, the company remains hopeful that it will eventually secure enough contracts to move forward with the project, Laflin said. Active engineer designing and construction for the facility have stopped in the face of the suspension, but the project has begun the Nuclear Regulatory Commission licensing process. “By taking the project through NRC licensing, we have made a substantial commitment to the project,” Laflin said. “We remain optimistic about construction and delivering to Lea County the economic impact and jobs that a project of this size entails.”
For Lea County, the project still represents potential progress in its attempt to brand itself as a nuclear industry corridor. With the nearby Waste Isolation Pilot Plant and the URENCO enrichment plant, as well as the proposed interim storage facility, Lea County is looking to take advantage of its remote location to attract nuclear business to tap into its experienced workforce. “We understand the nuclear industry has experienced several factors to slow it down in the USA, including natural gas prices being low and the disaster in Fukushima, Japan,” Lea County Commissioner Gregg Fulfer said in a statement. “We continue to have confidence in International Isotopes to bring their process and business to Lea County. Lea County and the "Energy Plex" continues to work with nuclear related businesses and still feel this will be the nuclear corridor of the nation. International Isotopes is a natural fit into our county and we look forward to them locating here and being a partner in our community.”
