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January 02, 2011

Areva and Cameco investing to double uranium production in Canada and China invests in a mine in Niger

1. AREVA and Cameco, the project operator, are the two main investors in Cigar Lake. Once it is in production by mid-2013, it will be the second largest high-grade uranium producing mine in the world, second only to Saskatchewan's own McArthur River mine. "We're in a big investment and development phase now," said Richards, noting AREVA's capital investments of over $200 million a year in Northern Saskatchewan. "We expect that to come to fruition about five years from now, when we hope to double our share of uranium production."



2. China National Nuclear and Shenzhen-based ZTE Energy Co. expected to start production at uranium mines in Niger in 2009 and expand the annual output to 700 tons by 2011 and 1,000 tons ultimately.

3. China Guangdong Nuclear Power Group Co., the nation’s second-biggest atomic-plant builder, is planning two reactors in Lufeng city. Guangdong Nuclear is considering building two reactors with capacity totaling 2,000 megawatts, the company said in a statement on its website. The plant in Lufeng will be capable of housing six 1,000-megawatt reactors



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