AREVA Forms a Joint Venture to Develop Its Mining Activities in Mongolia

Regulatory News:

AREVA (Paris:AREVA) has signed an agreement to develop uranium mines in Mongolia and to create the company AREVA Mines LLC, 66% owned by AREVA and 34% owned by MON-ATOM, the Mongolian state-owned nuclear company.

An agreement for Mitsubishi Corporation to take an equity interest has also been signed.

The signing ceremony took place in the presence of Mr. Luvsanvandan Bold, Mongolian Minister for Foreign Affairs, Mr. Laurent Fabius, French Minister of Foreign Affairs, Mr. Luc Oursel, president and CEO of AREVA, and Mr. Ken Kobayashi, president and CEO of Mitsubishi Corporation.

Present in the country since 1997, AREVA has carried out exploration work resulting in the discovery of two uranium deposits in the province of Dornogobi, Dulaan Uul and Zoovch Ovoo, whose resources are estimated at 60,000 tonnes.

Luc Oursel declared that: "This collaboration, which also involves our partner Mitsubishi Corporation, is strategic on two levels. It will enable us to develop the uranium sector in Mongolia and to pursue the geographic diversification of AREVA’s mining activities.”

MORE ABOUT AREVA

AREVA supplies advanced technology 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 operating services. The group is actively developing its activities in renewable energies – wind, bioenergy, solar and energy storage – to become a European leader in this sector.

With these two major offers, AREVA’s 46,000 employees are helping to supply ever safer, cleaner and more economical energy to the greatest number of people.

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