Deals
Korea Electric to Buy 10% Stake in Niger Uranium Mine
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Korea Electric Power Corp. and unit Korea Hydro & Nuclear Power Co. will acquire a 10 percent stake in a uranium mine in Niger for 170 million euros ($250 million) to meet increased domestic demand for the fuel.
The state-run utilities will buy new shares to be issued by an Areva SA unit that owns the Imouraren mine, Korea Electric said in an e-mailed statement today. The purchase will allow South Korea to secure about 700 metric tons of uranium annually for 24 years starting in 2013, the Seoul-based company said.