OREANDA-NEWS   The UK government has allocated £75 million ($90.5 million) to boost nuclear fuel production. The statement, which was distributed on Monday by the British Ministry for Business, Energy and Industrial Strategy, noted that this is being done in order to reduce dependence on fuel supplies from Russia.

"In June, the leaders of the Group of Seven countries agreed to implement coordinated actions to reduce dependence on supplies of nuclear and related goods for the civilian sector from Russia, including seeking to diversify the supply of uranium and nuclear fuel production facilities. Currently, Russia owns 20% of the world's uranium processing capacity and 40% of its enrichment capacity. The British Nuclear Fuel Fund in the amount of £75 million will strengthen the country's energy security by stimulating investments in the development and commercialization of nuclear fuel production in the country, including through the introduction of advanced fuel technologies."

Government funding should go to the creation of facilities in the kingdom for processing both newly mined and regenerated uranium. For these purposes, £13 million ($15.7 million) has been allocated to nuclear production facilities in Preston, England, which provides fuel for British gas-cooled reactors. Companies whose projects will significantly contribute to the diversification of the nuclear fuel market can apply for £50 million ($60 million). First of all, we are talking about the production of fuel for light water reactors in the UK, as well as new types of fuel for small modular reactors (MMR). Among other things, it is HALEU - metal high-grade low-enriched nuclear fuel.

The head of the British Nuclear Industry Association, Tom Greatrex, expressed hope that the government project in the future will allow the UK to increase exports of nuclear fuel.