Areva's debt soars as Finnish flagship continues to founder

French state-owned nuclear corporation Areva admitted this week that the delays and cost over-runs on its ongoing EPR reactor construction site in Finland had "virtually wiped out interim operating profits" according to an article in the Financial Times. Embattled CEO, Anne Lauvergeon, whose job has remained in jeopardy for some time, told the FT that Areva had suffered a 97% fall in operating profit amounting to 16 million euros (just under $23 million) while net profit was down 79% at 161 million euros (just under $229 million). Sounding an ominous warning for the future of new reactors, Areva - the lead contender for new plants in the U.S. - already faces a $5.3 billion euro ($7.5 billion) price tag for the plant that is already three years behind schedule while admitting that the price tag could continue to soar.

 

New and updated Beyond Nuclear pamphlet

Beyond Nuclear has updated its pamphlet on the French nuclear myths including all new information on Areva in Niger. 

Areva submits to joint health observatory in Niger - a sign of admission that its uranium mines cause health problems

Areva, in partnership with NGOs, including the French organizations Sherpa and Medecins du Monde, has agreed to establish an observation center at its two operating mine sites in Niger, Africa, in order to better monitor the health impacts caused by uranium mining. However, there is widespread skepticism that without any guarantees from Areva that it will compensate for damage done, the effort is merely window-dressing. Read the views of CRIIRAD, the independent radiological research laboratory which has tested the levels of radioactiviry around the Niger mine site.  Agence France Presse also covered the announcement.

Finnish nuclear "renaissance" sinking (metaphorically) in the mudflats

Better late than never, the New York Times reports on the sorry state of the French-led nuclear "renaissance" in Finland and France and the poor prospects for a nuclear revival in the U.S. 

French activists take message of abolition to NPT prepcom meeting

A representative from the French anti-nuclear network, Sortir du nucléaire, delivered a strong nuclear weapons abolition message at the nuclear Non-Proliferation Treaty (NPT) conference at the United Nations in New York, May 2-9, particularly in light of the French development of a new intercontinental ballistic missile, the M51. (Photo at left shows protests at the M51 facility. Photo courtesy of Éric Baisson and the "No to the M51 Missile Coalition). The May 2009 conference was in preparation for the 2010 NPT review conference. Alain Rivat of the French network, in a prepared statement (in English), pointed out that France is in violation of the NPT - which calls on nuclear weapons states to disarm - in developing both the M51 and the MegaJoule, a laser that can simulate nuclear weapons tests. France also played an influential role in securing the U.S.-India deal which allows India to develop civilian nuclear technology even though it is an "unofficial" nuclear weapons state that is not a signatory to the NPT. Furthermore, France is in violation of the tenets of the treaty by exporting reprocessing technology which separates plutonium from irradiated reactor fuel, a clear proliferation risk.