KHNP to import U.S. uranium under 10-year deal with Centrus

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KHNP to import U.S. uranium under 10-year deal with Centrus

Published: 05 Feb. 2025, 17:14

PARK EUN-JEE
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Audio report: written by reporters, read by AI

KHNP President and CEO Whang Joo-ho, second from left, and Centrus Energy CEO Amir Vexler, third from left, take a commemorative photo after signing an enriched uranium supply agreement in Washington on Feb. 4. [KHNP]

Korea Hydro & Nuclear Power (KHNP) signed a long-term contract with U.S. energy firm Centrus for the provision of uranium to power the nation's nuclear reactors as the state-run utility seeks to diversify its energy sources and increase imports from its ally.

Under the agreement, Centrus will supply low-enriched uranium suitable for commercial nuclear reactor use to KHNP over ten years, joining France, Russia, Britain and China on the roster of uranium-importing nations, the Korean firm said in a statement Wednesday.

The deal is the first extended nuclear power partnership between the two countries to be inked during the second term of U.S. President Donald Trump. It cements a standing agreement between the two governments, which signed a memorandum of understanding regarding nuclear export cooperation in January.

The head of KHNP celebrated the deal, expecting it to ensure a more stable supply of the energy source.

“This agreement plays a critical role in strengthening Korea’s energy security and ensuring a stable enriched uranium supply chain,” said Whang Joo-ho, President and CEO of KHNP. “It also supports the sustainability of nuclear power generation and strengthens Korea’s position in the global nuclear energy market."

Centrus is the only company licensed by the U.S. Nuclear Regulatory Commission to produce high-assay, low-enriched uranium (HALEU), a type of nuclear fuel applicable to both advanced reactors and small modular reactors. In November 2023, the Maryland-based company succeeded in producing 20 kilograms (44 pounds) of the fuel at its facility in Piketon, Ohio, and has since ramped up to an annual production capacity of 900 kilograms, according to KHNP.

BY PARK EUN-JEE [[email protected]]