Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

BRIEF-Areva says uranium deliveries not impacted by suspension on Saskatchewan operations

Published 2017-11-09, 03:23 a/m
Updated 2017-11-09, 03:30 a/m
BRIEF-Areva says uranium deliveries not impacted by suspension on Saskatchewan operations

BRIEF-Areva says uranium deliveries not impacted by suspension on Saskatchewan operations

Nov 9 (Reuters) - AREVA:

* AREVA acknowledges decision of Cameco Corporation to temporarily suspend by end-January 2018 production from the McArthur River mining and Key Lake milling operations in northern Saskatchewan, Canada, due to continued low uranium price.

* AREVA says temporary suspension - which is expected to last ten months - will not affect uranium delivery to its customers

* Regarding Cigar Lake mine and McClean Lake mill, 2018 production is expected at the same level as in 2017

* AREVA says market conditions have been very unfavourable with a drop of uranium spot price from early 2015 to the end of 2016 by 50% to reach 20$/lb and so far, the market does not show any sign of recovery

* New AREVA is committed to remain a reliable and competitive long-term uranium supplier

* New AREVA was split off from state-owned integrated nuclear group Areva this year after its parent company's equity was wiped out following years of losses.

* The French state recapitalised the new AREVA company with a 2.5 billion euro capital increase in July, while Japan's MHI 7011.T and JNFL also plan to put in 500 million euros.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.