Canadian Nuclear Safety Commission

Canadian Nuclear Safety Commission

October 25, 2007 16:13 ET

CNSC Announces Decision on a Financial Guarantee for the Future Decommissioning of SRB Technologies' Facility Located in Pembroke, Ontario

OTTAWA, ONTARIO--(Marketwire - Oct. 25, 2007) - Following a public hearing held on September 12, 2007, in Ottawa, Ontario, the Canadian Nuclear Safety Commission (CNSC) announced today its decision to accept the first component of the financial guarantee proposed by SRB Technologies (Canada) Inc. This first component represents the financial guarantee that would be required to cover the costs of the safe state of closure of the Nuclear Substance Processing Facility.

During the public hearing, the Commission considered written submissions from SRB Technologies (Canada) Inc. and CNSC staff. There were no interventions.

The Commission requires that the financial guarantee to cover the full decommissioning costs of the facility be in place by May 31, 2008. The Commission will consider the financial guarantee for the complete decommissioning at a future public hearing.

A Record of Proceedings, including Reasons for Decision (http://www.nuclearsafety.gc.ca/eng/commission/pdf/2007-09-12-Decision-SRBT-e-Final-E-docs3095302.pdf) and transcripts of the hearing are available on the CNSC Web site at www.nuclearsafety.gc.ca, or by contacting the CNSC.

The CNSC regulates the use of nuclear energy and materials to protect health, safety, security and the environment and to respect Canada's international commitments on the peaceful use of nuclear energy.

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