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Gold/Mining/Energy : RSDS - Russell Industries, Inc. -- Ignore unavailable to you. Want to Upgrade?

To: NYBob1 who wrote (42)	8/25/2007 7:04:36 PM
From: NYBob1	Read Replies (1) \| Respond to of 53

The world's largest builder of nuclear reactors - planned to triple its investment in uranium mining to take advantage of higher prices for the metal and a revival in nuclear power projects - Why higher uranium prices ? - Ex.... Areva has been operating two uranium mines in Niger for 40 years and is the west African country's biggest private employer - President Mamadou Tandja has accused it of backing the MJC in a bid to keep out competition - Areva has denied the accusations - and said last week that its contracts with Niamey - had been renewed - The row prompted talks at the weekend in Niamey - between French Cooperation Minister Jean-Marie Bockel - and Niger officials, including Tandja - "I'm very satisfied with the exchange I had with President Tandja on a whole range of subjects including Areva, where very significant progress has been made towards overcoming a certain number of points of incomprehension," Bockel said on Saturday. "The fact the contracts were renewed... shows that a first step has been made and that things are going in the right direction." He added: "It's clear that Areva does not support - and never has supported the rebellion - "There may have been the odd gaffe committed - on the ground - We must now do everything to ensure there is - no more ambiguity between Areva and Niger." Following the meeting between Tandja and Bockel, Mindaoudou told journalists the revamped contract with Areva obliges the company to sell - its uranium at a higher price - The new price – 40,000 CFA francs, or 60.98 euros (84 dollars) a kilo – represents a significant increase over the old price of 27,300 CFA but is still well below - the current international rate. The increase, retroactive to January 1, is only valid until the end of 2007, Mindaoudou said - late Friday. In addition, for the first time Niger will be allowed - to sell directly on its own account 300 tonnes of uranium - 100 this year and 200 in early 2008. Further negotiations with Areva will determine new prices - for 2008 and beyond, she said. Prime Minister Seini Oumarou had earlier criticised - the sale price of uranium that Areva fixes, commenting on state television that a kilo currently sells - for 122,000 CFA francs (186 euros) on - the international market. Mindaouodou said that in future Areva would be treated - like any other mining company in its search - for new deposits in Niger, which is the world's - third largest producer of uranium with some - nine percent of the market. "If Areva fulfils the conditions" laid down by Niger, "it will be granted permits, if not, it will not," she said. – AFP siliconinvestor.com siliconinvestor.com