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AREVA (Paris:AREVA) announced today an agreement with its respective
partners* in the Cigar Lake mine project and McClean Lake operation to
process all of the uranium from Cigar Lake in the McClean Lake mill (70%
owned by AREVA).
The Cigar Lake mine is the world’s second largest high-grade uranium
deposit (capable of producing more than 100kg of uranium per tonne of
ore). Discovered in 1981 by AREVA, which retains 37.1% ownership, Cigar
Lake is operated by Cameco Corp., which owns 50.03% of the project. It
is expected to start operation in 2013 and will eventually increase its
production capacity to 6,900 tonnes per year.
The McClean Lake Mill, operated by AREVA, is the only facility capable
of processing high-grade uranium ore without diluting it. AREVA has
planned an investment of nearly $150 million CDN (107 million euros) to
upgrade the plant and increase its capacity to more than 8,500 tonnes
"This strategic agreement reinforces our position as a uranium mining
leader in Canada, alongside our partner Cameco. Our mining activities
are an essential part of AREVA’s integrated business model, and now more
than ever we are working to develop the mining know-how that makes the
group one of the world leaders in uranium,” said Sébastien de
Montessus, Senior Executive Vice President of Mining at AREVA.
* The Cigar Lake partners include AREVA, Cameco Corp., Idemitsu and
Tokyo Electric Power Co.; the McClean Lake partners are AREVA, Denison
Mines Corp., and OURD (Canada) Co. Ltd.
AREVA supplies solutions for power generation with less carbon. Its
expertise and unwavering insistence on safety, security, transparency
and ethics are setting the standard, and its responsible development is
anchored in a process of continuous improvement.
Ranked first in the global nuclear power industry, AREVA’s unique
integrated offering to utilities covers every stage of the fuel cycle,
nuclear reactor design and construction, and related services. The group
is also expanding in renewable energies – wind, solar, bioenergies,
hydrogen and storage – to be one of the top three in this sector
worldwide in 2012.
With these two major offers, AREVA’s 48,000 employees are helping to
supply ever safer, cleaner and more economical energy to the greatest
number of people.
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