Areva’s Uramin Deal A Waste of Money?

Reuters reported Areva (EPA:AREVA) is bogged down by crisis as it is investigated for corporate spying and the Uramin deal is announced a failure.

As quoted in the market news:

Getting UraMin’s three African mines to produce proved to be tougher and costlier than expected. Areva’s new CEO Luc Oursel said in December he was writing down nearly their entire value, along with a wider group restructuring to reflect a slowdown in demand after March’s nuclear disaster in Fukushima, Japan.

Click here to read the full Reuters report.