The Canadian government has reached a deal to sell assets in its Atomic Energy of Canada (AECL) commercial reactor division to SNC-Lavalin Group. The sale does not include the National Research Universal (NRU) reactor, however, which supplies molybdenum to North America.
SNC-Lavalin has finalized its agreement with the Canadian government to acquire certain AECL assets for $15 million Canadian ($15.6 million U.S.) and royalty payments from future new projects. The acquisition is expected to close in the third quarter, subject to the completion of certain conditions, regulatory compliance, and other administrative approvals.
The NRU nuclear reactor at Chalk River, Ontario, produces approximately half of the North American supply of molybdenum-99 (Mo-99) and is not part of the purchase. For the time being, it will remain the property of AECL as the Canadian government seeks an outside contract to manage the NRU reactor, according to a June 27 report in the Globe and Mail.
The nuclear reactor has had its share of issues over the past two years. A major water leak in May 2009 forced the facility to close for repairs, which were finally completed in August 2010. AECL resumed production of Mo-99 that same month.
