Andrey Cherkasenko, Chairman of the board,
GK Atompromresursy 7, Bolshoi Strochenovsky Pereulok, Moscow, 115054, Russia Tel.: +7 495 981 90 84 Fax: +7 495 981 90 85
Daniel Gonzenbach, Partner, Holinger Asset Management AG Gotthardstrasse 21, 8002 Zurich, Switzerland Tel.: +41 43 817 70 22 Fax: +41 43 817 70 29 E-mail: gonzenbach@h-a-m.ch
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Nuclear Fuel Cycle and Nuclear Power
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Mining is the extraction of uranium ore from open pits or underground mines |
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Milling is the uranium recovery from the crushed and ground-up ore by leaching |
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At a conversion facility, uranium is converted into uranium hexafluoride |
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The enrichment takes UF6 to produce uranium-235 of higher concentration |
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Reactor fuel is ceramic pellets put in rods which are arranged into a fuel assembly ready for insertion into a reactor core |
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Fission of U-235 atoms leads to energy release |
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Spent fuel is unloaded into a storage for several months to several years in order to radiation levels decrease |
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In a reprocessing facility the used fuel is separated into different components to produce fresh fuel and to reduce amount of waste |
Nuclear Renaissance
 Many nations are rethinking nuclear power and making plans for new reactors
 Today's uranium production cannot catch up with the demand
 Conversion is the next potential bottleneck after uranium
 A dramatic change with the expiration of the HEU deal in 2013
The need to decommission nuclear reactors and facilities built in the 1970’s-1980’s
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| NAV | Change | YTD | | 36.61 | -0.60 | +0.80 |
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