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Orano, French firm formerly called Areva, says uranium price too low to invest in mines

 

 

 

By Reuters

PARIS
Petroleumworld 01 24 2018

Philippe Knoche, chief executive officer of French uranium and nuclear fuel group Orano - formerly called Areva - said current market prices for uranium are too low to invest in new uranium mines.

He added that long-term contract prices for uranium are about $10 per pound higher than spot prices.

Knoche, speaking to reporters at the presentation of the company's new name and logo, also said that selling a nuclear fuel reprocessing plant to China was not essential for the company's survival.

Knoche added that Orano aims to be cash flow positive from this year onwards and for the coming years, and that it aims to get 30 percent of turnover from Asia by 2020, compared to 20 percent at present.



Reporting by Geert De Clercq; Editing by Sudip Kar-Gupta from Reuters.

reuters.com 01 23 2018

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