Areva, Technip in JV to build uranium mines
A statement released by Australia’s Areva SA which is the world’s leading nuclear-plant builder revealed that the company is planning to double uranium production in five years, Bloomberg reported.
The statement further revealed that the company will form a joint venture with Technip SA that will invest $4.7 billion in mining. Technip and Areva will create a company called TSU Project to begin 10 mining projects, mostly in Africa.
Areva’s uranium output was approximately 6,000 metric tons in 2007 and the company is the world’s third-largest miner of uranium. Moreover, metal has risen sevenfold since 2003.
