Areva sells stake in Canadian uranium mining project

Areva on June 11 said it has closed the sale of its 27.94 percent interest in the Millennium mining project to Cameco Corp. for C$150 million ($145.9 million). In the north of the Canadian province of Saskatchewan, the Millennium Project involves a proposed underground mine estimated to contain to date in excess of 50 million pounds of uranium.

Cameco’s interest in the Millennium project rises to 69.9 percent. The other project partner, JCU (Canada) Exploration Co. Ltd., decided not to increase its stake and maintains its 30.1 percent ownership.

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