Nuclear waste recycler Waste Management Corp. will pay $9.2 billion to clean up its nuclear waste, the first time in decades that the U.N. has awarded rebates to businesses that recycle nuclear waste.
The $10 billion, a 10 percent tax on companies that dump nuclear waste at facilities is one of the biggest rebates the U:N.
The U.s. spent more than $1 trillion in nuclear waste in 2015.
Waste Management’s rebates will cover the cost of cleanup, transportation and decommissioning of the spent fuel, said the company’s chief executive officer, Daniel Saylor.
The company, based in North Dakota, has been the leading purveyor of nuclear waste for decades.
In 2016, Waste Management shipped 1.8 million metric tons of nuclear fuel from storage at Savannah River, Ga., to Los Alamos National Laboratory in New Mexico, where it is recycled for energy.
The company also recycles waste from commercial nuclear power plants.
Waste Management said it will pay a $10 million rebate to companies that recycle their nuclear waste and a $5 million rebate for any company that fails to do so.
It will pay another $5 billion for any companies that do not comply with the rules.
The Nuclear Waste Rebate Act was passed in 2009 and requires companies to report their waste to the U.:N.
It was designed to ensure that nuclear waste is treated properly and disposed of safely, but it has not been enforced.
The U:NTR, an international non-governmental organization, has set a goal of eliminating all nuclear waste by 2050.