At the end of Areva’s friendly takeover offer, which was launched on June 25, 2007, the shares tendered to its offer allow the French company to hold approximately 92.93% of the UraMin share capital on a fully diluted basis.
Areva said that UraMin’s identified uranium deposits in South Africa, Namibia and the Central African Republic should result in an annual production of more than 7,000 tons of uranium after 2012. The commissioning of these projects will also enable Areva to further diversify its production resources to secure its customers’ uranium supplies over the long term.
Areva intends to integrate UraMin as quickly as possible in order to optimize synergies with its existing mining activities and allow the company to develop its full potential.
Anne Lauvergeon, CEO of Areva, said: The integration of UraMin into Areva’s mining business unit constitutes a major step in the group’s ambitious plan to increase its uranium production. It further strengthens the ability of Areva to provide its customers with long-term secured uranium supplies, as part of innovative commercial offers covering the entire nuclear cycle.
