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Areva Predicts Uranium Demand Freeze Until 2014

Areva SA, the world’s largest maker of atomic reactors, predicted the market for uranium will suffer from a glut before nuclear fuel demand rebounds from 2014 as the industry reels from last year’s meltdown in Japan.

“In two years, there will be very strong demand on the market, as new reactors start operating, and as new contracts with the existing fleet kick in,” Chief Commercial Officer Ruben Lazo said in a March 26 interview at the company’s headquarters in Paris. “I’m sure that Japan will restart a few reactors this year, and complete all necessary measures to restart many others in 2013 and 2014.”