The Tokyo Electric Power Company (Tepco), owner of the disaster-hit Fukushima nuclear power plant, is negotiating a partial sale of its nuclear fuel reserves, a company spokesman confirmed to Efe news agency on Tuesday.
Tepco has not used any uranium since the Fukushima nuclear accident following the earthquake and tsunami of March 11, 2011, since when operations at all commercial nuclear reactors in Japan have been suspended.
Facing financial difficulties since the accident -- dismantling Fukushima and paying compensation for damages, without income from nuclear power generation -- the company is selling uranium to improve its balance sheets.
It is "currently negotiating (the sale of part of its reserves) with partners who supply it", said a Tepco spokesman.
Although the company did not provide details, a document accessed by Kyodo news agency said that by the end of March 2016, Tepco aims to reduce its reserves to the levels it held prior to the accident at Fukushima.
The company estimated that selling half its reserves would raise $102 million, according to the document.
Tepco hopes to re-activate its sole operational nuclear plant, Kashiwazaki-Kariwa, later in the year, which would also help dispose of its reserves.
However, the re-activation process has been complicated by the intense scrutiny the company faces, together with strong local opposition to its operation.
At the end of March, Tepco still held 17,570 tonnes of uranium, enough to operate Kashiwazaki-Kariwa for 10 years, compared to the 16,805 tonnes it held at the time of the Fukushima disaster in 2011.
