Areva’s 2012 Uranium Output Target May Be Trimmed 20% on Prices

Comment: So one of the largest uranium producers (also located in Lynchburg, VA) will scale back their uranium operations because of uranium prices are dropping, really, well duh, once the uranium price drops, people get laid off. Come on people of Virginia, the so call jobs the uranium corporations are promising are really just part time jobs because you are laid off as soon as the uranium price drops! Demand Va leaders to ban uranium mining and milling now!

March 05, 2010, 5:10 AM EST

By Anna Stablum

March 5 (Bloomberg) -- Areva SA, the world’s third-largest uranium miner, may cut its 2012 output target by as much as 20 percent as a slump in prices prompts a review of projects, a company official said.

The company said in September it expected to produce about 12,000 metric tons of uranium in 2012 and warned expansion plans could be modified because prices may no longer justify the cost. Uranium for immediate delivery fell 45 percent to $40.50 a pound in 12 months and is 70 percent lower than the record $136 reached in 2007, according to Georgia-based Ux Consulting Co.

Read more:
http://www.businessweek.com/news/2010-03-05/areva-s-2012-uranium-output-target-may-be-trimmed-20-on-prices.html