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The nuclear option [Areva]

The nuclear option – AREVA
appomattox’s posterous  2 July 09 “………………………………”Though Niger is the fourth-largest producer of uranium in the world, it sees almost none of the wealth. Because of a long-standing contract, the French consortium* pays only 5.5 percent of its revenue in taxes, and most of it goes to subsidize elites in the dusty capital of Niamey. Almost three-quarters of the people cannot read, and those who survive to the age of forty-five are living on statistically borrowed time. Niger was recently named the most deprived country on earth by the United Nations, ranked dead last among the world’s sovereign nations on a comprehensive scale called the Human Development Index, which charts life expectancy, education, and standard of living…””Uranium: War, Energy, and the Rock that Shaped the World,” by Tom Zoellne……………..

…………..President Nicolas Sarkozy has been active in trumpeting his country’s know-how to win French companies new business abroad…Areva needs between eight and 10 billion euros by 2012 to fund its investment program, notably to develop its third-generation EPR nuclear reactor. It also needs an estimated two billion euros to buy out Siemens’ stake in Areva NP, its reactor subsidiary.” ………………….

…………..Areva needs between eight billion and 10 billion euros (11.2 billion and 14.0 billion dollars) by 2012 to fund its investment program, notably to develop its third-generation EPR nuclear reactor. The company also needs an estimated two billion euros to buy out Siemens’ stake in Areva NP, its reactor subsidiary.

http://www.google.com/hostednews/afp/article/ALeqM5i7L4s3lyWXxYV0rTTNpBou6r7Jeg

In other words, it appears Areva is in deep financial doings, and ownership of the company is being diluted from a state-run operation to privatization – a movement that seems to annoy the French government.While financial doings are deep (albeit perhaps not troublesome, depending on the availability of investors), the climate in Africa poses some problems:

“After a visit in late March from French President Nicholas Sarkozy to Niger, residents in the uranium-exporting desert country continue questioning whether AREVA, a company primarily owned by the French government, will honour its promise to protect communities from mining hazards.” On the other side of that coin, Areva faces problems with water shortages in its mining and milling processes.

http://www.irinnews.org/Report.aspx?ReportId=83706

http://www.irinnews.org/Report.aspx?ReportId=83706

The nuclear option [Areva]: Virginia Business – News – appomattox’s posterous

July 3, 2009 - Posted by Christina Macpherson | business and costs, France | antinuclear, AREVA, indigenous, nuclear, nuclear costs