nuclear-news

AREVA’s loss making uranium projects halted, in Africa and USA

Areva halts Trekkopje uranium development, The Namibian, By: JO-MARÉ DUDDY, 14 Dec 11 AREVA yesterday said it was putting its investment in the US$1 billion Trekkopje uranium project on hold as the French nuclear fuel and services giant braced itself for a worldwide loss of up to US$2 billion for 2011.
Central to Areva’s financial woes is a provision for an asset write-down of US$1,97 billion for property and equipment at its UraMin operations, which include Trekoppje as well as Bakouma in the Central African Republic and Ryst Kuil in South Africa.
In addition, state-owned Areva slashed its uranium resource estimates at Trekkopje by nearly 42 per cent. ….

The company’s investment freeze also includes shelving a controversial nuclear enrichment plant project in Idaho in the US. Areva would cut its total investments by 34 per cent over the 2012-16 period, compared to the period 2007-11, Oursel said.

December 15, 2011 - Posted by Christina Macpherson | AFRICA, business and costs, Uranium, USA