Areva and Rhodia in Nuclear and Rare Earths deal

AFP reports an announcement by Areva (TSXV:CEI) and Rhodia (EPA:RHA) on an agreement to develop deposits containing a mix of uranium and rare earth elements.

The market news is quoted as saying:

Under the terms of a memorandum of understanding, the companies will combine their respective expertise “to put together joint offers for the development and exploitation of hitherto unworked deposits containing the two strategic resources,” the companies said in a statement.

“Eventually, the two parties could link up to conduct joint technical audits or studies of identified deposits, create specific joint-ventures or co-participate in mining projects carried out by Areva or third parties,” the statement continued.

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