Energy department selling surplus uranium
The department announced the sales will take place every three months, with no more than 450 metric tons put on the market per quarter.
The uranium, which can be processed as fuel for nuclear power plants, will help cover the cost of cleaning up the Portsmouth uranium enrichment plant in Ohio.
Energy Secretary Steven Chu approved the transfers after he determined the sales would not hurt domestic uranium producers, the department said. U.S. uranium production rose 14 percent last year to 4.2 million pounds.
However, an analysis prepared for the department concluded that the average spot price for uranium could fall 4.9 to 8.9 percent during the period from the November 30, 2010 spot price of $60.25 per pound. The current spot price for uranium is near $70 a pound.
The Energy Department built up an inventory of about 58,000 tonnes of natural uranium for military use during the Cold War and has been selling the stocks gradually over the past 25 years.
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Ottawa sets out to protect its hydro heritage
OTTAWA - The city of Ottawa is looking to designate five hydro substations built nearly a century ago as heritage structures, a move intended to protect the architectural history of Ottawa's earliest forays into the electricity business.
All five buildings are still used by Hydro Ottawa to reduce the voltage coming from transmission lines before the electricity is transmitted to homes and businesses.
Electricity came to Ottawa in 1882 when two carbon lamps were installed on LeBreton Flats, heritage planner Anne Fitzpatrick told the city's built heritage subcommittee on Tuesday. It became a lucrative business, and soon a privately owned monopoly.
In 1905,…
