Glossary
- Contract-specified price:
- The delivery price determined
when a contract is signed. It can be a fixed price or a base price escalated
according to a given formula.
- Conventional mill (uranium):
- A facility engineered and built
principally for processing of uraniferous ore materials mined from the
earth and the recovery, by chemical treatment in the mill’s circuits,
of uranium and/or other valued coproduct components from the processed
ore.
- Cost model for undiscovered
resources:
- A computerized algorithm that
uses the uranium endowment estimated for a given geological area and
selected industry economic indexes to develop random variables that
describe the undiscovered resources ultimately expected to be discovered
in that area at chosen forward-cost categories.
- Cutoff grade:
- The lowest grade, in percent
U3O8, of uranium ore at a minimum specified thickness
that can be mined at specified cost.
- Development drilling:
- Drilling done to determine more
precisely size, grade, and configuration of an ore deposit subsequent
to the time the determination is made that the deposit can be commercially
developed.
- Domestic:
- Domestic means within the 50
States, District of Columbia, Puerto Rico, the Virgin Islands, Guam,
and other U.S. Possessions. The word “domestic” is used also in conjunction
with data and information that are compiled to characterize a particular
segment or aspect of the uranium industry in the United States.
- Domestic purchase:
- A uranium purchase from a firm
located in the United States.
- Domestic sale:
- A uranium sale to a firm located
in the United States.
- Domestic uranium industry:
- Collectively, those businesses
(whether U.S. or foreign-based) that operate under the laws and regulations
pertaining to the conduct of commerce within the United States and its
territories and possessions and that engage in activities within the
United States, its territories, and possessions specifically directed
toward uranium exploration, development, mining, and milling; marketing
of uranium materials; enrichment; fabrication; or acquisition and management
of uranium materials for use in commercial nuclear power plants.
- Enriched uranium:
- Uranium in which the 235U
isotope concentration has been increased to greater than the 0.711 percent
235U (by weight) present in natural uranium.
- Enrichment feed deliveries:
- Uranium that is shipped under
contract to a supplier of enrichment services for use in preparing enriched
uranium product to a specified 235U concentration and that
ultimately will be used as fuel in a nuclear reactor.
- Enrichment services:
- (See Separative
Work Units).
- Exploration drilling:
- Drilling done in search of new
mineral deposits, on extensions of known ore deposits, or at the location
of a discovery up to the time when the company decides that sufficient
ore reserves are present to justify commercial exploitation. Assessment
drilling is reported as exploration drilling.
- Fabricated fuel:
- Fuel assemblies composed of an
array of fuel rods loaded with pellets of enriched uranium dioxide.
- Foreign purchase:
- A uranium purchase of foreign-origin
uranium from a firm located outside of the United States.
- Foreign sale:
- A uranium sale to a firm located
outside the United States.
- Forward costs (uranium):
- The operating and capital costs
that will be incurred in any future production of uranium from in-place
reserves. Included are costs for labor, materials, power and fuel, royalties,
payroll taxes, insurance, and general and administrative costs that
are dependent upon the quantity of production and, thus, applicable
as variable costs of production. Excluded from forward costs are prior
expenditures, if any, incurred for property acquisition, exploration,
mine development, and mill construction, as well as income taxes, profit,
and the cost of money. Note: By use of forward costing, estimates
of reserves for ore deposits in differing geological settings can be
aggregated and reported as the maximum amount that can theoretically
be extracted to recover the specified costs of uranium oxide production
under the listed forward cost categories.
- Heap leach solutions:
- The separation, or dissolving-out,
from mined rock of the soluble uranium constituents by the natural action
of percolating a prepared chemical solution through mounded (heaped)
rock material. The mounded material usually contains low grade mineralized
material and/or waste rock produced from openpit or underground mines.
The solutions are collected after percolation is completed and processed
to recover the valued components.
- In Situ Leach mining (ISL):
- The recovery, by chemical leaching,
of the valuable components of an orebody without physical extraction
of the ore from the ground. Also referred to as “solution mining.”
- Long-term contract:
- One or more deliveries to occur
after a year following contract execution.
- Milling of uranium:
- The processing of uranium from
ore mined by conventional methods, such as underground or openpit, to
separate the uranium from the undesired material in the ore.
- National Uranium Resource Evaluation
(NURE):
- A program begun by the U.S. Atomic
Energy Commission (AEC) in 1974 to make a comprehensive evaluation of
U.S. uranium resources and continued through 1983 by the AEC's successor
agencies, the Energy Research and Development Administration (ERDA)
and the Depart-ment of Energy (DOE). The NURE program included aerial
radiometric and magnetic surveys, hydrogeochemical and stream sediment
surveys, geologic drilling in selected areas, geophysical logging of
selected boreholes, and geologic studies to identify and evaluate geologic
environments favorable for uranium.
- Nonconventional plant (uranium):
- A facility engineered and built
principally for processing of uraniferous solutions that are produced
during in situ leach mining, from heap leaching, or in the manufacture
of other commodities, and the recovery, by chemical treatment in the
plant’s circuits, of uranium from the processed solutions.
- Nuclear electric power (nuclear
power):
- Electricity generated by an electric
power plant whose turbines are driven by steam produced by the heat
from the fission of nuclear fuel in a reactor.
- Nuclear reactor:
- An apparatus in which a nuclear
fission chain reaction can be initiated, controlled, and sustained at
a specific rate. A reactor includes fuel (fissionable material), moderating
material to control the rate of fission, a heavy-walled pressure vessel
to house reactor components, shielding to protect personnel, a system
to conduct heat away from the reactor, and instrumentation for monitoring
and controlling the reactor’s systems.
- Optional delivery commitment:
- A provision to allow the conditional
purchase or sale of a specific quantity of material in addition to the
firm quantity in the contract.
- Person Year:
- One whole year, or fraction thereof,
worked by an employee, including contracted manpower. It is expressed
as a quotient (to two decimal places) of the time units worked during
a year (hours, weeks, or months) divided by the like total time units
in a year. For example: 80 hours worked is 0.04 (rounded) of a person
year; 8 weeks worked is 0.15 (rounded) of a person year; 12 months worked
is 1.0 person year. Contracted manpower includes survey crews, drilling
crews, consultants, and other persons who worked under contract to support
your firm’s ongoing operations.
- Processing of uranium:
- Uranium-recovery operations at
a mill, in-situ leach plant, byproduct plant, or other type of recovery
operation.
- Reclamation:
- Process of restoring surface
environment to acceptable pre-existing conditions. Includes surface
contouring, equipment removal, well plugging, revegetation, etc.
- Reserve Cost Categories of
$15, $30, $50, and $100 per Pound U3O8:
- Classification of uranium reserves
estimated by using break-even cutoff grades that are calculated based
on forward-operating costs of less than $15, $30, $50, and $100 per
pound U3O8.
- Restoration:
- The returning of all affected
groundwater to its premining quality for its premining use by employing
the best practical technology.
Separative
Work Units (SWU):
- The standard measure of enrichment
services. The effort expended in separating a mass F of feed of assay
xf into a mass P of product assay xp and waste of mass W and assay xw
is expressed in terms of the number of separative work units needed,
given by the expression SWU = WV(xw) + PV(xp)
- FV(xf), where V(x) is the "value function," defined as
V(x) = (1 - 2x) ln((1 - x)/x).
- Spot contract:
- A one-time delivery of the entire
contract to occur within one year of contract execution.
- Spot market:
- Buying and selling of uranium
for immediate or very near-term delivery. It typically involves transactions
for delivery of up to 500,000 pounds U3O8 within
a year of contract execution.
- Spot-market price:
- A transaction price concluded
“on the spot,” that is, on a one-time, prompt basis. The transaction
usually involves only one specific quantity of product. This contrasts
with a term-contract sale price, which obligates the seller to deliver
a product at an agreed frequency and price over an extended period.
- Unfilled requirements:
- Requirements not covered by usage
of inventory or supply contracts in existence as of January 1 of the
survey year.
- Uranium:
- A heavy, naturally radioactive,
metallic element (atomic number 92). Its two principally occurring isotopes
are 235U and 238U. The isotope 235U
is indispensable to the nuclearindustry because it is the only isotope
existing in nature to any appreciable extent that is fissionable by
thermal neutrons. The isotope 238U is also important because
it absorbs neutrons to produce a radioactive isotope that subsequently
decays to the isotope 239Pu, which also is fissionable by
thermal neutrons.
- Uranium concentrate:
- A yellow or brown powder obtained
by the milling of uranium ore, processing of in situ leach mining solutions,
or as a byproduct of phosphoric acid production.
- Uranium deposit:
- A discrete concentration of uranium
mineralization that is of possible economic interest.
- Uranium endowment:
- The uranium that is estimated
to occur in rock with a grade of at least 0.01 percent U3O8.
The estimate of the uranium endowment is made before consideration of
economic availability and any associated uranium resources.
- Uranium hexafluoride (UF6):
- A white solid obtained by chemical
treatment of U3O8 and which forms a vapor at temperatures
above 56 degrees Centigrade. UF6 is the form of uranium required
for the enrichment process.
- Uranium ore:
- Rock containing uranium mineralization
in concentrations that can be mined economically, (typically 1 to 4
pounds of U3O8 per ton or 0.05 to 0.20 percent
U3O8).
- Uranium oxide:
- Uranium concentrate or yellowcake.
Abbreviated as U3O8.
- Uranium property:
- A specific tract of land with
known uranium reserves that could be developed for mining.
- Uranium reserves:
- Estimated quantities of uranium
in known mineral deposits of such size, grade, and configuration that
the uranium could be recovered at or below a specified production cost
with currently proven mining and processing technology and under current
law and regulations. Reserves are based on direct radiometric and chemical
measurements of drill hole and other types of sampling of the deposits.
Mineral grades and thickness, spatial relationships, depths below the
surface, mining and reclamation methods, distances to milling facilities,
and amenability of ores to processing are considered in the evaluation.
The amounts of uranium in ore that could be exploited within the chosen
forward-cost levels are estimated utilizing available sampling, engineering,
geologic, and economic data in accordance with conventional engineering
practices.
- Uranium resources categories:
- Three categories of uranium resources
are used to reflect differing levels of confidence in the resources
reported. Reasonably assured resources (RAR), estimated additional resources
(EAR), and speculative resources (SR) are described below.
Reasonably assured resources (RAR): The uranium that occurs
in known mineral deposits of such size, grade, and configuration
that it could be recovered within the given production cost ranges,
with currently proven mining and processing technology. Estimates
of tonnage and grade are based on specific sample data and measurements
of the deposits and on knowledge of deposit characteristics. RAR
correspond to DOE's uranium reserves category.
Estimated additional resources
(EAR): The uranium in addition to RAR that is expected to occur,
mostly on the basis of direct geological evidence, in extensions
of well-explored deposits, little explored deposits, and undiscovered
deposits believed to exist along well-defined geological trends
with known deposits, such that the uranium can subsequently be recovered
within the given cost ranges. Estimates of tonnage and grade are
based on available sampling data and on knowledge of the deposit
characteristics, as determined in the best-known parts of the deposit
or in similar deposits. EAR correspond to DOE's probable potential
resources category.
Speculative resources (SR): Uranium in addition to EAR that is thought to
exist, mostly on the basis of indirect evidence and geological extrapolations,
in deposits discoverable with existing exploration techniques. The
locations of deposits in this category can generally be specified
only as being somewhere within given regions or geological trends.
The estimates in this category are less reliable than estimates
of RAR and EAR. The category of SR corresponds to DOE's possible
potential resources plus speculative potential resources categories
combined.
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Usage Agreement:
- Contracts held by enrichment
customers that allow feed material to be stored at the enrichment plant
site in advance of need.
Yellowcake:
- A natural uranium concentrate
that takes its name from its color and texture. Yellowcake typically
contains 70 to 90 percent U3O8 by weight. It is
used as feedstock for uranium fuel enrichment and fuel pellet fabrication.(See
uranium oxide).
http://www.eia.doe.gov/cneaf/nuclear/page/glossary.html
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