International Isotopes finalizes land transfer for U.S. plant

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International Isotopes (INIS), a manufacturer of nuclear medicine products, has completed the process for the receipt of property transferred from the State of New Mexico and Lea County to the company, which plans to use the remaining property as a buffer zone for future expansion and for the potential co-location of prospective customer facilities utilizing the fluoride products produced from de-conversion and fluorine extraction.

The company now holds title to the property consisting of 640 acres located about 10 miles west of Hobbs, N.M., and about 25 miles from the URENCO USA enrichment facility in Eunice, N.M. The planned INIS de-conversion facility is expected to occupy approximately 40 acres near the center of this property.

“We are extremely pleased with the successful completion of this property transfer and look forward to the start of site development and construction activities,” Steve T. Laflin, president and CEO of INIS, stated. “This is a significant step forward in our plans to construct the nation's first green technology, commercial depleted uranium de-conversion facility in Lea County. Although our Nuclear Regulatory Commission (NRC) license is not expected to be issued before June 2012, we are still permitted to conduct certain limited pre-license construction activities, the scope of which will be based upon NRC concurrence and the company's ability to raise capital for the project. The initial facility is expected to employ about 125 to 150 full-time staff.”