International Isotopes Inc. (OTC Bulletin Board: INIS) announces completion of an agreement with URENCO USA to provide assistance to International Isotopes on its Nuclear Regulatory Commission licensing and State of New Mexico permitting processes.
INIS submitted a license application to the U.S. Nuclear Regulatory Commission (NRC) in December 2009 for the construction of its planned depleted uranium de-conversion facility, and has been working with the NRC staff as they progress through their review process.
Steve T. Laflin, President and CEO of International Isotopes Inc. said, "We are very pleased with the quality of the license application and the progress the NRC team has made reviewing this application. While we remain confident we will be able to support the completion of the NRC review in a timely fashion, we recognize the considerable recent experience URENCO USA has had with its successful NRC licensing and State of New Mexico permitting, and we have entered into a consulting agreement with URENCO USA in order to take full benefit from their experience."
Under the terms of the agreement, URENCO USA will perform a detailed review of the INIS Integrated Safety Analysis (ISA) that was submitted to the NRC as part of the licensing process and work with INIS in the preparation of the State of New Mexico permits.