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Areva to Post Large Loss for 2011

Energy Investing

CNBC reported Areva (EPA:AREVA,FRA:AREVA) will post a massive full-year loss in 2011 because of a troubled mining projects.

CNBC reported Areva (EPA:AREVA,FRA:AREVA) will post a massive full-year loss in 2011 because of a troubled mining projects.

As quoted in the market news:

Areva said it expects to make an operating loss of between euro1.4 billion and euro1.6 billion this year, compared to a profit of euro883 million in 2010.

Areva’s new chief executive, Luc Oursel, is scheduled to present Tuesday a five-year turnaround strategy for the company aimed at slashing its operating costs by up to euro1 billion annually by 2015.

Click here to read the full CNBC report.

arevamining projectsMarket News

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