Areva Suspends CAR Uranium Mine Project

Reuters Africa reported Areva (EPA:AREVA) has suspended its uranium mining project for two years, following a fall in uranium prices.

As quoted in the market news:

Exploitation of the Bakouma mine, initially scheduled for 2010, then postponed to 2011, is at present unprofitable for the company, Jean Francois Milian, director general of Areva resources in Central African Republic, told a news conference.

Click here to read the full Reuters Africa report.