Mega-Reactor Builder Areva to Triple Uranium Exploration

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French mega-nuclear reactor builder Areva Friday said it plans to triple its exploration spending to US$124 million and hiring hundreds of geologists.

French mega-nuclear reactor builder Areva Friday said it plans to triple its exploration spending to US$124 million and hiring hundreds of geologists.

In an interview with Bloomberg News, Olivier Mallet, chief of Areva's mining operations, said "We aim to triple our exploration budget, double the number of geologists and buy permits in Africa and Central Asia." The company currently has a staff of 150 geologists and spent nearly $41 million last year for exploration.

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