[Machine translation] NewCo, Areva’s entity resulting from the restructuring of the nuclear group refocused on the fuel cycle, has had to depreciate some of its assets, particularly the uranium mine Imouraren in Niger, according to a statement released Tuesday. NewCo published Tuesday its accounts for a shortened eight-month period (from January 1 to August 31, 2017), a decision taken as part of the restructuring of the group and the exit of this entity from the tax consolidation perimeter so far constituted around Areva SA. Although the published financial results cannot be compared to the previous year of 12 months, the group nevertheless indicated that it had spent 256 million euros in new impairments between 30 June and 31 August. Among them, 210 million euros concern mining assets, including 178 million euros for the only Imouraren mine in Niger. The exploitation of this gigantic mine has been in abeyance for several years, for want of a favorable conjuncture in civilian nuclear power. Areva had already depreciated this asset twice, in 2015 and 2016, by respectively 194 and 316 million euros. The new impairment losses are linked to “both the unfavorable change in the euro-dollar exchange rate and the unfavorable change in market price expectations” (of uranium), the group said.
Romandie 31st Oct 2017 read more »
