Areva suspends raft of nuclear power projects

  • Areva suspends raft of nuclear power projects

    One of the world's leading nuclear power developers, Areva, has today confirmed a major reorganisation that will see a series of projects suspended in the wake of significant financial losses.

    The company announced yesterday that operating losses for this year could reach €1.6bn, primarily as a result of the Fukushima disaster on the value of its uranium mining operations.

    The news was followed today by confirmation that Areva will suspend planned "capacity extensions" at four nuclear sites in France, halt work to extend its Eagle Rock enrichment plant near Idaho Falls in the US, and scale back planned investment at uranium mines in the Central African Republic, Namibia and South Africa.

    webmasters comment:

    Australia went on with a fire sale of its mines, now Areva is jumping the wagon. This only means that demand is going down, beacuse i don't see an increased supply anywhere. It looks like the markets expect a worldwide phaseout.

    Not yet time to celebrate, but as Gargamel would put it... " cautiously excited"...

    Source: via