Areva and Rhodia partner to develop deposits
31 May 2011
French nuclear giant Areva has signed a memorandum of understanding (MoU) with international chemical company Rhodia to develop deposits containing a mix of uranium and rare earth elements. In a statement, the companies said that they will "combine their respective expertise and competencies to put together joint offers for the development and exploitation of hitherto unworked deposits containing the two strategic resources." Under the MoU, Areva and Rhodia could eventually cooperate in conducting joint technical audits or studies of identified deposits, create joint ventures or co-participate in mining projects carried out by Areva or third parties. Sebastien de Montessus, senior executive vice president of Areva's mining business group, said: "This MoU paves the way for the development of deposits with untapped potential. It will give Areva access to new uranium sources while contributing to ensuring supplies in strategic metals to companies such as Rhodia."