Cameco Resources, 32773-32775 [2014-13214]
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Federal Register / Vol. 79, No. 109 / Friday, June 6, 2014 / Notices
wreier-aviles on DSK5TPTVN1PROD with NOTICES
Amendment Nos.: Unit 1–267 and
Unit 2–211. A publicly-available version
is in ADAMS under Accession No.
ML14042A465; documents related to
these amendments are listed in the
Safety Evaluation enclosed with the
amendments.
Renewed Facility Operating License
Nos. DPR–57 and NPF–5: Amendments
revised the licenses and the technical
specifications.
Date of initial notice in Federal
Register: September 4, 2012 (77 FR
53930). The supplements dated
November 13, and November 30, 2012,
and February 22, 2013, provided
additional information that clarified the
application, did not expand the scope of
the application as originally noticed,
and did not change the staff’s original
proposed no significant hazards
consideration determination.
The Commission’s related evaluation
of the amendments is contained in a
Safety Evaluation dated May 13, 2014.
No significant hazards consideration
comments received: No.
Southern Nuclear Operating Company,
Inc., Docket Nos. 50–348 and 50–364,
Joseph M. Farley Nuclear Plant, Units 1
and 2, Houston County, Alabama
Date of amendment request:
December 21, 2012, as supplemented by
letter dated May 21, 2013.
Brief description of amendment
request: The amendments will
incorporate a degraded grid voltage
modification schedule into the J. M.
Farley operating licenses. This
modification would eliminate the need
for manual actions in the event of a
degraded grid voltage condition.
Date of issuance: May 13, 2014.
Effective date: As of the date of
issuance and shall be implemented
within 60 days from the date of
issuance.
Amendment Nos.: 194 and 190. A
publicly-available version is in ADAMS
under Accession No. ML14069A344;
documents related to this these
amendments are listed in the Safety
Evaluation enclosed with the
amendments.
Renewed Facility Operating License
Nos. NPF–2 and NPF–8: Amendment
revised the Facility Operating License
and Technical Specifications.
Date of initial notice in Federal
Register: September 3, 2013 (78 FR
54289). The supplement dated May 21,
2013, provided additional information
that clarified the application, did not
expand the scope of the application as
originally noticed, and did not change
the staff’s proposed no significant
hazards consideration determination as
published in the Federal Register.
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Jkt 232001
The Commission’s related evaluation
of the amendments is contained in a
Safety Evaluation dated May 13, 2014.
No significant hazards consideration
comments received: No.
Dated at Rockville, Maryland, this 30th day
of May, 2014.
For the Nuclear Regulatory Commission.
Michele G. Evans,
Director, Division of Operating Reactor
Licensing, Office of Nuclear Reactor
Regulation.
[FR Doc. 2014–13217 Filed 6–5–14; 8:45 am]
BILLING CODE 7590–01–P
NUCLEAR REGULATORY
COMMISSION
[Docket No. 04008964; NRC–2014–0092]
Cameco Resources
Nuclear Regulatory
Commission.
ACTION: Temporary exemption; issuance.
AGENCY:
The U.S. Nuclear Regulatory
Commission (NRC) is issuing a
temporary exemption from certain NRC
financial assurance requirements to
Cameco Resources (Cameco) in response
to its annual financial assurance update
for the North Butte satellite to the Smith
Ranch Highland Uranium In-Situ
Recovery (ISR) project. Issuance of this
temporary exemption will not remove
the requirement for Cameco to provide
adequate financial assurance through an
approved mechanism, but will allow the
NRC staff to further evaluate whether
the State of Wyoming’s separate account
provision for financial assurance
instruments it holds is consistent with
the NRC’s requirement for a standby
trust agreement.
ADDRESSES: Please refer to Docket ID
NRC–2014–0092 when contacting the
NRC about the availability of
information regarding this document.
You may access publicly-available
information related to this document
using any of the following methods:
• Federal Rulemaking Web site: Go to
https://www.regulations.gov and search
for Docket ID NRC–2014–0092. Address
questions about NRC dockets to Carol
Gallagher; telephone: 301–287–3422;
email: Carol.Gallagher@nrc.gov. For
technical questions, contact the
individual listed in the FOR FURTHER
INFORMATION CONTACT section of this
document.
• NRC’s Agencywide Documents
Access and Management System
(ADAMS): You may access publicly
available documents online in the NRC
Library at https://www.nrc.gov/readingrm/adams.html. To begin the search,
SUMMARY:
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32773
select ‘‘ADAMS Public Documents’’ and
then select ‘‘Begin Web-based ADAMS
Search.’’ For problems with ADAMS,
please contact the NRC’s Public
Document Room (PDR) reference staff at
1–800–397–4209, 301–415–4737, or by
email to pdr.resource@nrc.gov. The
ADAMS accession number for each
document referenced in this document
(if that document is available in
ADAMS) is provided the first time that
a document is referenced.
• NRC’s PDR: You may examine and
purchase copies of public documents at
the NRC’s PDR, Room O1–F21, One
White Flint North, 11555 Rockville
Pike, Rockville, Maryland 20852.
FOR FURTHER INFORMATION CONTACT:
Douglas Mandeville, Office of Federal
and State Materials and Environmental
Management Programs; U.S. Nuclear
Regulatory Commission, Washington DC
20555–0001; telephone: 301–415–0724;
email: Douglas.Mandeville@nrc.gov.
I. Background
Pursuant to Part 40 of Title 10 of the
Code of Federal Regulations (10 CFR),
Appendix A, Criterion 9 and NRC
materials license SUA–1548, License
Condition 9.5, Cameco is required to
submit to the NRC for review and
approval an annual update of the
financial surety to cover third-party
costs for decommissioning and
decontamination for the Smith Ranch
Highland ISR project and its related
satellite facilities at Gas Hills, North
Butte, and Ruth. Smith Ranch Highland
is located in Converse County,
Wyoming and its related satellite
facilities are located in Natrona and
Fremont; Campbell; and Johnson
Counties, Wyoming, respectively. By
letter dated January 30, 2014, Cameco
submitted to the NRC its North Butte
annual surety update for 2014–2015
(ADAMS Accession No. ML14043A218).
The NRC’s staff reviewed the annual
financial surety updates and found the
values reasonable for the required
reclamation activities (ADAMS
Accession No. ML14115A219). Cameco
maintains approved financial assurance
instruments in favor of the State of
Wyoming; however, it does not have a
standby trust agreement (STA) in place,
as required by 10 CFR Part 40,
Appendix A, Criterion 9.
II. Description of Action
As of December 17, 2012, the NRC’s
uranium milling licensees, which are
regulated, in part, under 10 CFR Part 40,
Appendix A, Criterion 9, are required to
have an STA in place. Criterion 9
provides that if a licensee does not use
a trust as its financial assurance
mechanism, then the licensee is
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wreier-aviles on DSK5TPTVN1PROD with NOTICES
32774
Federal Register / Vol. 79, No. 109 / Friday, June 6, 2014 / Notices
required to establish a standby trust
fund to receive funds in the event the
Commission or State regulatory agency
exercises its right to collect the funds
provided for by surety or letter of credit.
The purpose of an STA is to provide a
separate account to hold
decommissioning funds in the event of
a default. Consistent with the provisions
of 10 CFR Part 40, Appendix A,
Criterion 9(d), Cameco has consolidated
its NRC financial assurance sureties
with those it is required to obtain by the
State of Wyoming, and the financial
instrument is held by the State of
Wyoming. Cameco has not established
an STA, nor has it requested an
exemption from the requirement to do
so.
Wyoming law requires that a separate
account be set up to receive forfeited
decommissioning funds, but does not
specifically require an STA. Section 35–
11–424(a) of the Code of Wyoming
states that ‘‘[a]ll forfeitures collected
under the provisions of this act shall be
deposited with the State treasurer in a
separate account for reclamation
purposes.’’ Under Wyoming Department
of Environmental Quality (WDEQ)
financial assurance requirements,
WDEQ holds permit bonds in a
fiduciary fund called an agency fund. If
a bond is forfeited, the forfeited funds
are moved to a special revenue account.
Although the Wyoming special revenue
account is not an STA, the special
revenue account serves a similar
purpose in that forfeited funds are not
deposited into the State treasury for
general fund use, but instead are set
aside in the special revenue account to
be used exclusively for reclamation, i.e.,
decommissioning, purposes.
The NRC has the discretion, under 10
CFR 40.14(a), to grant an exemption
from the requirements of a regulation in
10 CFR Part 40 on its own initiative, if
the NRC determines the exemption is
authorized by law and will not endanger
life or property or the common defense
and security and is otherwise in the
public interest. The NRC has elected to
grant Cameco an exemption to the STA
requirements in 10 CFR Part 40,
Appendix A, Criterion 9, for the current
surety arrangement until the 2016
review cycle to allow the NRC an
opportunity to evaluate whether the
State of Wyoming’s separate account
requirements for financial assurance
instruments it holds is consistent with
the NRC’s STA requirements.
III. Discussion
A. The Exemption Is Authorized by Law
The NRC staff concluded that the
proposed exemption is authorized by
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13:59 Jun 05, 2014
Jkt 232001
law as 10 CFR 40.14(a) expressly allows
for an exemption to the requirements in
10 CFR Part 40, Appendix A, Criterion
9, and the proposed exemption would
not be contrary to any provision of the
Atomic Energy Act of 1954, as amended.
provision will sufficiently address the
NRC requirement as well, and therefore
provide clarity on the implementation
of the NRC regulation in this instance.
Therefore, granting the exemption is in
the public interest.
B. The Exemption Presents No Undue
Risk to Public Health and Safety
The exemption is related to the
financial surety. The requirement that
the licensee provide adequate financial
assurance through an approved
mechanism (e.g., a surety bond,
irrevocable letter of credit) would
remain unaffected by the exemption.
Rather, the exemption would only
pertain to the establishment of a
dedicated trust in which funds could be
deposited in the event that the financial
assurance mechanism would be need to
be liquidated. The requirement in 10
CFR Part 40, Appendix A, Criterion
9(d), allows for the financial or surety
arrangements to be consolidated within
a State’s similar financial assurance
instrument. The NRC has determined
that while the WDEQ does not require
an STA, the special revenue account
may serve a similar purpose in that
forfeited funds are not deposited into
the State treasury for general fund use,
but instead are set aside in the special
revenue account to be used exclusively
for site-specific reclamation, i.e.,
decommissioning, purposes. Because
the licensee remains obligated to
establish an adequate financial
assurance mechanism for its licensed
sites, and the NRC has approved such a
mechanism, sufficient funds are
available in the event that the site
would need to be decommissioned. A
temporary delay in establishing an STA
does not impact the present availability
and adequacy of the actual financial
assurance mechanism. Therefore, the
limited exemption being issued by the
NRC herein presents no undue risk to
public health and safety.
E. Environmental Considerations
C. The Exemption Is Consistent With the
Common Defense and Security
The proposed exemption would not
involve or implicate the common
defense or security. Therefore, granting
the exemption will have no effect on the
common defense and security.
D. The Exemption Is in the Public
Interest
The proposed exemption would
enable the NRC staff to evaluate the
State of Wyoming’s separate account
provision and the NRC’s STA
requirement to determine if they are
comparable. The evaluation process will
allow the NRC to determine whether the
licensee’s compliance with the state law
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The NRC staff has determined that
granting of an exemption from the
requirements of 10 CFR Part 40,
Appendix A, Criterion 9 belongs to a
category of regulatory actions which the
NRC, by regulation, has determined do
not individually or cumulatively have a
significant effect on the environment,
and as such do not require an
environmental assessment. The
exemption from the requirement to have
an STA in place is eligible for
categorical exclusion under 10 CFR
51.22(c)(25)(vi)(H), which provides that
exemptions from surety, insurance, or
indemnification requirements are
categorically excluded if the exemption
would not result in any significant
hazards consideration; change or
increase in the amount of any offsite
effluents; increase in individual or
cumulative public or occupational
radiation exposure; construction
impacts; or increase in the potential for
or consequence from radiological
accidents. The NRC staff finds that the
STA exemption involves surety,
insurance and/or indemnity
requirements and that granting Cameco
this temporary exemption from the
requirement of establishing a standby
trust arrangement would not result in
any significant hazards or increases in
offsite effluents, radiation exposure,
construction impacts, or potential
radiological accidents. Therefore, an
environmental assessment is not
required.
IV. Conclusions
Accordingly, the NRC has determined
that, pursuant to 10 CFR 40.14(a), the
proposed temporary exemption is
authorized by law, will not present an
undue risk to the public health and
safety, is consistent with the common
defense and security, and is in the
public interest. NRC hereby grants
Cameco Resources an exemption from
the requirement in 10 CFR part 40,
Appendix A, Criterion 9 to set up a
standby trust to receive funds in the
event the NRC or the State regulatory
agency exercises is right to collect the
surety. This exemption will expire on
January 30, 2016, for North Butte
satellite to the Smith Ranch Highland
Uranium Project. At that time, Cameco
Resources will be required to ensure
compliance with the STA requirements.
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Federal Register / Vol. 79, No. 109 / Friday, June 6, 2014 / Notices
Dated at Rockville, Maryland, this 29th day
of May 2014.
For the Nuclear Regulatory Commission.
Andrew Persinko,
Deputy Director, Decommissioning and
Uranium Recovery Licensing Directorate,
Division of Waste Management and
Environmental Protection, Office of Federal
and State Materials and Environmental
Management Programs.
BILLING CODE 7590–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. IC–31065]
Notice of Applications for
Deregistration Under Section 8(f) of the
Investment Company Act of 1940
May 30, 2014.
wreier-aviles on DSK5TPTVN1PROD with NOTICES
The following is a notice of
applications for deregistration under
section 8(f) of the Investment Company
Act of 1940 for the month of May 2014.
A copy of each application may be
obtained via the Commission’s Web site
by searching for the file number, or for
an applicant using the Company name
box, at https://www.sec.gov/search/
search.htm or by calling (202) 551–
8090. An order granting each
application will be issued unless the
SEC orders a hearing. Interested persons
may request a hearing on any
application by writing to the SEC’s
Secretary at the address below and
serving the relevant applicant with a
copy of the request, personally or by
mail. Hearing requests should be
received by the SEC by 5:30 p.m. on
June 24, 2014, and should be
accompanied by proof of service on the
applicant, in the form of an affidavit or,
for lawyers, a certificate of service.
Hearing requests should state the nature
of the writer’s interest, the reason for the
request, and the issues contested.
Persons who wish to be notified of a
hearing may request notification by
writing to the Secretary, U.S. Securities
and Exchange Commission, 100 F Street
NE., Washington, DC 20549–1090.
For Further Information Contact:
Diane L. Titus at (202) 551–6810, SEC,
Division of Investment Management,
Chief Counsel’s Office, 100 F Street NE.,
Washington, DC 20549–8010.
AllianzGI Global Equity & Convertible
Income Fund [File No. 811–22067]
Summary: Applicant, a closed-end
investment company, seeks an order
declaring that it has ceased to be an
investment company. Applicant
transferred its asset to AllianzGI Equity
& Convertible Income Fund, and on
13:59 Jun 05, 2014
Jkt 232001
January 27, 2014, made a distribution to
its shareholders based on net asset
value. Expenses of $312,000 incurred in
connection with the reorganization were
paid by applicant, the surviving fund
and Allianz Global Investors Fund
Management LLC, applicant’s
investment adviser.
Filing Date: The application was filed
on April 30, 2014.
Applicant’s Address: 1633 Broadway,
New York, NY 10019.
reorganization were paid by applicant
and the acquiring fund.
Filing Date: The application was filed
on May 8, 2014.
Applicant’s Address: 120 West 45th
St., Suite 3600, New York, NY 10036.
Excelsior Buyout Investors LLC [File
No. 811–21283]
[FR Doc. 2014–13214 Filed 6–5–14; 8:45 am]
VerDate Mar<15>2010
32775
Summary: Each applicant, a closedend investment company, seeks an
order declaring that it has ceased to be
an investment company. Applicants
transferred their assets to Nuveen
Michigan Quality Income Municipal
Fund, and on January 7, 2013, made
distributions to their shareholders based
on net asset value. Aggregate expenses
of $552,421 incurred in connection with
the reorganizations were allocated
among applicants and the acquiring
fund.
Filing Date: The applications were
filed on April 23, 2014.
Applicant’s Address: 333 West
Wacker Dr., Chicago, IL 60606.
Summary: Applicant, a closed-end
investment company, seeks an order
declaring that it has ceased to be an
investment company. On April 17,
2014, applicant made a final liquidating
distribution to its shareholders, based
on net asset value. Applicant paid
$34,458 in connection with the
liquidation.
Filing Date: The application was filed
on April 17, 2014,
Applicant’s Address: 225 High Ridge
Rd., Stamford, CT 06905.
Tax-Free Fund of Colorado [File No.
811–5047]
Nuveen Michigan Premium Income
Municipal Fund Inc. [File No. 811–
7116]
Nuveen Michigan Dividend Advantage
Municipal Fund [File No. 811–9453]
Churchill Tax Free Trust [File No. 811–
5086]
Nuveen Premier Municipal
Opportunity Fund Inc. [File No. 811–
6457]
Tax-Free Fund for Utah [File No. 811–
6239]
Nuveen Premium Income Municipal
Opportunity Fund [File No. 811–7792]
Aquila Narragansett Tax-Free Income
Fund [File No. 811–6707]
Summary: Each applicant, a closedend investment company, seeks an
order declaring that it has ceased to be
an investment company. Applicants
transferred their assets to Nuveen AMTFree Municipal Income Fund, and on
May 6, 2013, made distributions to their
shareholders based on net asset value.
Aggregate expenses of $903,613
incurred in connection with the
reorganizations were allocated among
applicants and the acquiring fund.
Filing Date: The applications were
filed on April 23, 2014.
Applicant’s Address: 333 West
Wacker Dr., Chicago, IL 60606.
Summary: Each applicant seeks an
order declaring that it has ceased to be
an investment company. Applicants
transferred their assets to corresponding
series of Aquila Municipal Trust, and on
October 11, 2013, applicants made
distributions to their shareholders based
on net asset value. Expenses of
$128,303, $107,966, $173,052 and
$103,036, respectively, incurred in
connection with the reorganizations
were paid by each applicant and the
corresponding acquiring funds.
Filing Date: The applications were
filed on May 8, 2014.
Applicants’ Address: 120 West 45th
St., Suite 3600, New York, NY 10036.
Aquila Three Peaks Opportunity
Growth Fund [File No. 811–8168]
Summary: Applicant seeks an order
declaring that it has ceased to be an
investment company. Applicant
transferred its assets to Aquila Three
Peaks Opportunity Growth Fund, a
series of Aquila Funds Trust, and on
October 11, 2013, applicant made a
distribution to its shareholders based on
net asset value. Expenses of $54,868
incurred in connection with the
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Fmt 4703
Sfmt 4703
Nuveen Arizona Dividend Advantage
Municipal Fund [File No. 811–9459]
Nuveen Arizona Dividend Advantage
Municipal Fund 2 [File No. 811–10553]
Nuveen Arizona Dividend Advantage
Municipal Fund 3 [File No. 811–21157]
Summary: Each applicant, a closedend investment company, seeks an
order declaring that it has ceased to be
an investment company. Applicants
transferred their assets to Nuveen
Arizona Premium Income Municipal
Fund, and on April 8, 2013, made
distributions to their shareholders based
on net asset value. Aggregate expenses
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Agencies
[Federal Register Volume 79, Number 109 (Friday, June 6, 2014)]
[Notices]
[Pages 32773-32775]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-13214]
-----------------------------------------------------------------------
NUCLEAR REGULATORY COMMISSION
[Docket No. 04008964; NRC-2014-0092]
Cameco Resources
AGENCY: Nuclear Regulatory Commission.
ACTION: Temporary exemption; issuance.
-----------------------------------------------------------------------
SUMMARY: The U.S. Nuclear Regulatory Commission (NRC) is issuing a
temporary exemption from certain NRC financial assurance requirements
to Cameco Resources (Cameco) in response to its annual financial
assurance update for the North Butte satellite to the Smith Ranch
Highland Uranium In-Situ Recovery (ISR) project. Issuance of this
temporary exemption will not remove the requirement for Cameco to
provide adequate financial assurance through an approved mechanism, but
will allow the NRC staff to further evaluate whether the State of
Wyoming's separate account provision for financial assurance
instruments it holds is consistent with the NRC's requirement for a
standby trust agreement.
ADDRESSES: Please refer to Docket ID NRC-2014-0092 when contacting the
NRC about the availability of information regarding this document. You
may access publicly-available information related to this document
using any of the following methods:
Federal Rulemaking Web site: Go to https://www.regulations.gov and search for Docket ID NRC-2014-0092. Address
questions about NRC dockets to Carol Gallagher; telephone: 301-287-
3422; email: Carol.Gallagher@nrc.gov. For technical questions, contact
the individual listed in the FOR FURTHER INFORMATION CONTACT section of
this document.
NRC's Agencywide Documents Access and Management System
(ADAMS): You may access publicly available documents online in the NRC
Library at https://www.nrc.gov/reading-rm/adams.html. To begin the
search, select ``ADAMS Public Documents'' and then select ``Begin Web-
based ADAMS Search.'' For problems with ADAMS, please contact the NRC's
Public Document Room (PDR) reference staff at 1-800-397-4209, 301-415-
4737, or by email to pdr.resource@nrc.gov. The ADAMS accession number
for each document referenced in this document (if that document is
available in ADAMS) is provided the first time that a document is
referenced.
NRC's PDR: You may examine and purchase copies of public
documents at the NRC's PDR, Room O1-F21, One White Flint North, 11555
Rockville Pike, Rockville, Maryland 20852.
FOR FURTHER INFORMATION CONTACT: Douglas Mandeville, Office of Federal
and State Materials and Environmental Management Programs; U.S. Nuclear
Regulatory Commission, Washington DC 20555-0001; telephone: 301-415-
0724; email: Douglas.Mandeville@nrc.gov.
I. Background
Pursuant to Part 40 of Title 10 of the Code of Federal Regulations
(10 CFR), Appendix A, Criterion 9 and NRC materials license SUA-1548,
License Condition 9.5, Cameco is required to submit to the NRC for
review and approval an annual update of the financial surety to cover
third-party costs for decommissioning and decontamination for the Smith
Ranch Highland ISR project and its related satellite facilities at Gas
Hills, North Butte, and Ruth. Smith Ranch Highland is located in
Converse County, Wyoming and its related satellite facilities are
located in Natrona and Fremont; Campbell; and Johnson Counties,
Wyoming, respectively. By letter dated January 30, 2014, Cameco
submitted to the NRC its North Butte annual surety update for 2014-2015
(ADAMS Accession No. ML14043A218). The NRC's staff reviewed the annual
financial surety updates and found the values reasonable for the
required reclamation activities (ADAMS Accession No. ML14115A219).
Cameco maintains approved financial assurance instruments in favor of
the State of Wyoming; however, it does not have a standby trust
agreement (STA) in place, as required by 10 CFR Part 40, Appendix A,
Criterion 9.
II. Description of Action
As of December 17, 2012, the NRC's uranium milling licensees, which
are regulated, in part, under 10 CFR Part 40, Appendix A, Criterion 9,
are required to have an STA in place. Criterion 9 provides that if a
licensee does not use a trust as its financial assurance mechanism,
then the licensee is
[[Page 32774]]
required to establish a standby trust fund to receive funds in the
event the Commission or State regulatory agency exercises its right to
collect the funds provided for by surety or letter of credit. The
purpose of an STA is to provide a separate account to hold
decommissioning funds in the event of a default. Consistent with the
provisions of 10 CFR Part 40, Appendix A, Criterion 9(d), Cameco has
consolidated its NRC financial assurance sureties with those it is
required to obtain by the State of Wyoming, and the financial
instrument is held by the State of Wyoming. Cameco has not established
an STA, nor has it requested an exemption from the requirement to do
so.
Wyoming law requires that a separate account be set up to receive
forfeited decommissioning funds, but does not specifically require an
STA. Section 35-11-424(a) of the Code of Wyoming states that ``[a]ll
forfeitures collected under the provisions of this act shall be
deposited with the State treasurer in a separate account for
reclamation purposes.'' Under Wyoming Department of Environmental
Quality (WDEQ) financial assurance requirements, WDEQ holds permit
bonds in a fiduciary fund called an agency fund. If a bond is
forfeited, the forfeited funds are moved to a special revenue account.
Although the Wyoming special revenue account is not an STA, the special
revenue account serves a similar purpose in that forfeited funds are
not deposited into the State treasury for general fund use, but instead
are set aside in the special revenue account to be used exclusively for
reclamation, i.e., decommissioning, purposes.
The NRC has the discretion, under 10 CFR 40.14(a), to grant an
exemption from the requirements of a regulation in 10 CFR Part 40 on
its own initiative, if the NRC determines the exemption is authorized
by law and will not endanger life or property or the common defense and
security and is otherwise in the public interest. The NRC has elected
to grant Cameco an exemption to the STA requirements in 10 CFR Part 40,
Appendix A, Criterion 9, for the current surety arrangement until the
2016 review cycle to allow the NRC an opportunity to evaluate whether
the State of Wyoming's separate account requirements for financial
assurance instruments it holds is consistent with the NRC's STA
requirements.
III. Discussion
A. The Exemption Is Authorized by Law
The NRC staff concluded that the proposed exemption is authorized
by law as 10 CFR 40.14(a) expressly allows for an exemption to the
requirements in 10 CFR Part 40, Appendix A, Criterion 9, and the
proposed exemption would not be contrary to any provision of the Atomic
Energy Act of 1954, as amended.
B. The Exemption Presents No Undue Risk to Public Health and Safety
The exemption is related to the financial surety. The requirement
that the licensee provide adequate financial assurance through an
approved mechanism (e.g., a surety bond, irrevocable letter of credit)
would remain unaffected by the exemption. Rather, the exemption would
only pertain to the establishment of a dedicated trust in which funds
could be deposited in the event that the financial assurance mechanism
would be need to be liquidated. The requirement in 10 CFR Part 40,
Appendix A, Criterion 9(d), allows for the financial or surety
arrangements to be consolidated within a State's similar financial
assurance instrument. The NRC has determined that while the WDEQ does
not require an STA, the special revenue account may serve a similar
purpose in that forfeited funds are not deposited into the State
treasury for general fund use, but instead are set aside in the special
revenue account to be used exclusively for site-specific reclamation,
i.e., decommissioning, purposes. Because the licensee remains obligated
to establish an adequate financial assurance mechanism for its licensed
sites, and the NRC has approved such a mechanism, sufficient funds are
available in the event that the site would need to be decommissioned. A
temporary delay in establishing an STA does not impact the present
availability and adequacy of the actual financial assurance mechanism.
Therefore, the limited exemption being issued by the NRC herein
presents no undue risk to public health and safety.
C. The Exemption Is Consistent With the Common Defense and Security
The proposed exemption would not involve or implicate the common
defense or security. Therefore, granting the exemption will have no
effect on the common defense and security.
D. The Exemption Is in the Public Interest
The proposed exemption would enable the NRC staff to evaluate the
State of Wyoming's separate account provision and the NRC's STA
requirement to determine if they are comparable. The evaluation process
will allow the NRC to determine whether the licensee's compliance with
the state law provision will sufficiently address the NRC requirement
as well, and therefore provide clarity on the implementation of the NRC
regulation in this instance. Therefore, granting the exemption is in
the public interest.
E. Environmental Considerations
The NRC staff has determined that granting of an exemption from the
requirements of 10 CFR Part 40, Appendix A, Criterion 9 belongs to a
category of regulatory actions which the NRC, by regulation, has
determined do not individually or cumulatively have a significant
effect on the environment, and as such do not require an environmental
assessment. The exemption from the requirement to have an STA in place
is eligible for categorical exclusion under 10 CFR 51.22(c)(25)(vi)(H),
which provides that exemptions from surety, insurance, or
indemnification requirements are categorically excluded if the
exemption would not result in any significant hazards consideration;
change or increase in the amount of any offsite effluents; increase in
individual or cumulative public or occupational radiation exposure;
construction impacts; or increase in the potential for or consequence
from radiological accidents. The NRC staff finds that the STA exemption
involves surety, insurance and/or indemnity requirements and that
granting Cameco this temporary exemption from the requirement of
establishing a standby trust arrangement would not result in any
significant hazards or increases in offsite effluents, radiation
exposure, construction impacts, or potential radiological accidents.
Therefore, an environmental assessment is not required.
IV. Conclusions
Accordingly, the NRC has determined that, pursuant to 10 CFR
40.14(a), the proposed temporary exemption is authorized by law, will
not present an undue risk to the public health and safety, is
consistent with the common defense and security, and is in the public
interest. NRC hereby grants Cameco Resources an exemption from the
requirement in 10 CFR part 40, Appendix A, Criterion 9 to set up a
standby trust to receive funds in the event the NRC or the State
regulatory agency exercises is right to collect the surety. This
exemption will expire on January 30, 2016, for North Butte satellite to
the Smith Ranch Highland Uranium Project. At that time, Cameco
Resources will be required to ensure compliance with the STA
requirements.
[[Page 32775]]
Dated at Rockville, Maryland, this 29th day of May 2014.
For the Nuclear Regulatory Commission.
Andrew Persinko,
Deputy Director, Decommissioning and Uranium Recovery Licensing
Directorate, Division of Waste Management and Environmental Protection,
Office of Federal and State Materials and Environmental Management
Programs.
[FR Doc. 2014-13214 Filed 6-5-14; 8:45 am]
BILLING CODE 7590-01-P