China in Talks to Buy Areva Uranium Stakes

Bloomberg reported China National Nuclear Corp. said it’s in talks to buy a stake in uranium mines owned by Areva SA (EPA:AREVA) .

As quoted in the market news:

China National Nuclear, which started operations at its first overseas uranium mine in 2010, is looking to acquire additional assets to meet rising domestic demand, the company said in March last year. Rival China Guangdong Nuclear Power Group Co. is offering to buy Australian explorer Extract Resources Ltd. (EXT) for A$2.2 billion ($2.3 billion) to gain access to the world’s fourth-biggest uranium deposit.

Click here to read the full Bloomberg report.