PARIS, March 25 (UPI) -- French nuclear power group Areva has signed a uranium producing partnership.
The agreement forms the TSU Project, a joint venture between Areva, its subsidiary, SGN, and Technip. Areva said it hopes to take away the skills of the two engineering companies in uranium extraction projects.
The French nuclear giant has plans to double its annual uranium production over five years, from 6,000 tons in 2007 to 12,000 tons. The firm plans on mining 10 new deposits in Africa and around the world through a nearly $6 billion investment.
Areva said in a statement that the combined experience of Technip and SGN will secure the development of its mining projects.
SGN provides nuclear fuel cycle engineering services and is a key partner for Areva's major nuclear projects in France and abroad, while Technip has experience in mining uranium.
TSU will begin by hastening Areva's Imouraren and Trekkopie projects, located in Niger and Namibia, respectively.
