PARIS (Thomson Financial) - Nuclear group Areva said it has renewed its uranium agreement with the government of Niger under which the price of the uranium it buys from the Cominak and Somair mines for the next two years will rise by around 50 pct.
In a statement, Areva said the price increase reflect the recent rise of long-term uranium prices.
The company also said it received government agreement to launch mining at the Imouraren deposit and to extend its exploration scope, confirming its role as a mine operator in Niger for the coming decades.
Areva plans to invest over 1 bln eur in the Imouraren mine, making it the biggest industrial mining project ever under consideration in Niger and placing it at the second world rank with almost 5,000 tons of uranium produced annually. tf.TFN-Europe_newsdesk@thomson.com ak COPYRIGHT Copyright Thomson Financial News Limited 2007. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.