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Depressing outlook for uranium sales: AREVA cuts back production

Waiting for Uranium Prices to Rise, By Melissa Pistilli Uranium Investing News, 15 March.2010, AREVA May Cut Production Depressing uranium prices have forced French uranium miner AREVA to plan a review of its projects, which may lead to a 20 per cent cut in its 2012 output target.

Last September, the company pegged its 2012 production number at 12,000 tonnes of U308, but now says uranium prices are too low to make production costs economical.

AREVA plans to announce a new 2012 production target in June of this year.“There will be either a halt or delays in some of the large projects,” said Sebastien de Montessus, director of AREVA’s mining unit. “We have the flexibility to lower the 2012 target of 12,000 tU by more than 20 percent depending on market conditions.”

March 16, 2010 - Posted by | business and costs, France | , , , ,

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