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The State Land Office and Lea County have agreed on a land swap to provide a site in southeastern New Mexico for a plant to process depleted uranium.

Land Commissioner Pat Lyons said Wednesday the state gets about 3,900 acres from the county in exchange for 640 acres near Hobbs.

The newly acquired land between Eunice and Jal will be leased by the Land Office for agricultural purposes.

The land near Hobbs will become the site for a proposed plant by Idaho Falls, Idaho-based International Isotopes Inc.

The plant is to extract commercially valuable fluoride compounds from tailings created by the refining of uranium for nuclear power plant fuel.

The U.S. Nuclear Regulatory Commission is reviewing the company's license application.

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