Seoul (ANTARA News/Asia Pulse) - Korea Electric Power Corp. (KEPCO) said Sunday it has signed a deal with French state-owned nuclear group Areva SA to jointly develop a uranium mine in Niger.

The latest deal came after the South Korean state-run power company purchased a 10-percent stake in the French group's subsidiary, Areva NC Expansion, which owns a 67-percent stake in the Imouraren mine, at an investment of 300 billion won (US$258 million), KEPCO said.

The deal is expected to secure 700 metric tons of uranium per year for 24 years from 2013, according to the company. KEPCO chief Kim Ssang-su said in a statement the company plans to obtain half of its uranium needs from overseas mines of its own by 2020.


Source:
Business in Asia Today - Feb. 8, 2010
published by Asia Pulse