Glossary of Terms

concentrate: The product resulting from the milling of uranium ore, typically containing 80 – 90% U₃O₈, which is also referred to as "yellowcake". It is usually measured in terms of pounds of contained U₃O₈ or kilograms of contained U.

Converter: The operator of a facility licensed to receive, store and transform U₃O₈ into another chemical form suitable for subsequent processing.

depleted uranium tails: Uranium where the U-235 content is below the naturally occurring 0.71% as the result of the enrichment process.

fission: The physical reaction of splitting atoms in a chain reaction forming the basis for nuclear energy generation.

highly enriched uranium (HEU): Any form of uranium with a U-235 concentration of 20% or higher.

isotope: Different forms of atoms of the same element.

kgU: Kilograms of uranium which is equal to pounds of U₃O₈ multiplied by 2.59978.

long-term price: The price for product sold or purchased under contract for multiple deliveries beginning after one year.

megawatts: 1000 kilowatts.

natural uranium: Uranium whose isotopic composition, as it occurs in nature (approximately 0.71% U-235), has not been altered.

plutonium: A by-product of nuclear fission in reactors which can be recovered from spent fuel and recycled.

recycling: The re-use of valuable products which arise from the processing of nuclear materials.

reprocessed uranium: Uranium which has been recovered from the reprocessing of spent nuclear fuel.

spot price: The price for product sold or purchased for delivery within one year.

U-235: The only naturally occurring isotope of uranium which is capable of fission and is present in approximately 0.71% by weight in natural uranium.

U₃O₈: Triuranium octoxide.

UF6: Uranium hexafloride, a compound of uranium produced during the conversion process, which is a gas above 56 degrees Celsius and thus suitable for use in the enrichment process of U₃O₈ into fuel for nuclear reactors.

uranium (U): The heaviest naturally occurring element. It is metallic and slightly radioactive.

western world: Includes Argentina, Australia, Belgium, Brazil, Canada, Czech Republic, Finland, France, Gabon, Germany, India, Indonesia, Japan, Mexico, Namibia, Netherlands, Niger, Pakistan, Philippines, Portugal, Romania, and Slovenia, South Africa, South Korea, Spain, Sweden, Switzerland, Taiwan, Thailand, Turkey, United Kingdom, and the United States.

yellowcake: The name often used for concentrates produced from the product resulting from the milling of uranium ore.