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Strategies & Market Trends : Booms, Busts, and Recoveries

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From: elmatador	8/8/2005 10:28:05 AM
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Iran has resumed uranium conversion in a move which EU officials have warned will probably see its nuclear case sent to the UN Security Council for possible sanctions. Iran 'resumes nuclear work' (Filed: 08/08/2005) Iran has resumed uranium conversion in a move which EU officials have warned will probably see its nuclear case sent to the UN Security Council for possible sanctions. Iran's nuclear programme worries the EU Mohammad Saeedi, deputy head of Iran's Atomic Energy Organisation, said: "The uranium conversion facility in Isfahan has started its activities under IAEA (International Atomic Energy Agency) supervision." Iran agreed to suspend all nuclear fuel work last November as part of a deal with the EU while both sides explored a long-term arrangement for Iran's nuclear programme. But Tehran has complained about the slow pace of the negotiations and on Saturday rejected an EU proposal offering it economic and political incentives to halt nuclear fuel work for good. Iran says its nuclear ambitions are entirely peaceful and that its atomic plants will be used to generate electricity, not make bombs. At the Isfahan plant two workers wearing white overalls, face masks and hard hats lifted a barrel full of uranium yellow cake, opened its lid and fed it into the processing line. Other workers at the plant watched excitedly via closed circuit television screens. A nuclear scientist at the site, who declined to be named, said: "I am excited, I didn't believe it until the last moment thinking this may not happen, but now I am very happy."

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