EDF and Areva finalize uranium partnership

13 February 2012

French firms EDF and Areva have agreed the principles of a long-term partnership to supply natural uranium over the 2014-2030 period. The agreement will ensure security of supply and competitiveness of the French nuclear fleet, the companies said in a statement.

Covering a total volume that could reach more than 20,000 metric tons, the agreed principles foresee the extension of the supply contract from Areva's existing mines. They also open up the possibility of EDF part-funding the development of a new mining project in exchange for a share of its future production.

Areva currently provides EDF with nearly 40% of its annual requirements for natural uranium.

EDF CEO Henri Proglio said: “This partnership confirms the cohesiveness of the French nuclear industry and opens up new cooperation prospects. It gives us long term visibility and is fully consistent with our strategy to secure the uranium supplies of our nuclear power plants.”

The partnership is in line with the decisions made by the Conseil de Politique Nucléaire (French nuclear policy council) on 21 February 2011.

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