1 Aug (NucNet): Areva has taken control of the uranium exploration and mining company UraMin following acceptance of a friendly offer that has given the French energy company 92.93 percent of UraMin’s share capital.
In a statement yesterday Areva said its offer of 7.75 US dollars (USD) (about 5.7 euro) per UraMin share values UraMin at more than USD 2.5 billion for 100 percent of its share capital.
Areva said deposits identified by UraMin in South Africa, Namibia and the Central African Republic should result in an annual production of more than 7,000 tonnes of uranium after 2012.
The commissioning of these projects will also enable Areva to diversify its production resources to secure its customers’ long-term uranium supplies.
Areva chief executive officer Anne Lauvergeon said the integration of UraMin into Areva’s mining business unit constitutes “a major step” in the group’s ambitious plan to increase its uranium production.
>>Related reports in the NucNet database (available to subscribers)
Areva And Mitsubishi Announce ‘Powerful’ Nuclear Alliance (News No. 225, 19 October 2006)
Areva Invests EUR 610 Million In New Uranium Conversion Plants (News No. 125, 22 May 2007)
Areva Launches Friendly Cash Offer For UraMin (News in Brief No. 11, 18 June 2007)
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