AREVA and KEPCO to cooperate in the development of the Imouraren uranium mine in Niger

Press release

NUCLEAR POWER / MINING

December 10, 2009

AREVA and KEPCO (Korea Electric Power Corporation) announce their agreement to partner in the operating company of the Imouraren deposit in Niger.

This agreement is in line with the deliberate strengthening of partnerships that the AREVA group has undertaken with its major clients over the past several years. It will allow KEPCO to indirectly hold 10% of the operating company "Imouraren SA", jointly held by AREVA and the State of Niger. In the context of this agreement, the Korean group will be able to off-take 10% of the production of the mine for the duration of its operations; this uranium will be used exclusively in Korean domestic nuclear power plants. This new industrial and financial partnership demonstrates the interest AREVA's clients have in this important project and their desire to secure, over the long term, their uranium supplies.

AREVA is pleased with the strengthening of its cooperation with one of the four foremost nuclear energy producers in the world. Last June, KEPCO, through its subsidiary KHNP, also entered into the capital of the operating company of the enrichment plant Georges Besse II, in the south of France.

Situated in the North of Niger, 80km to the south of Arlit, the Imouraren deposit is today considered one of the foremost uranium deposits in the world. From the start of operations in 2013, Imouraren will have an initial nameplate capacity of 5,000 tonnes per year. The exploitation, which will last for more than 30 years, will be operated by the company "Imouraren SA". The entry of a major industrial organization into this mining project brings significant support to the partners already invested in the development of the Imouraren mine.