France: €1.7 billion investment on uranium to cut ties with Russia

23/10/2023

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French nuclear energy company Orano is investing €1.7 billion to increase its uranium enrichment capacity and reduce dependency on Russia. On Thursday, Orano’s board approved a 30% production capacity increase for its Tricastin factory, in Southern France – Europe’s largest nuclear technology site. The project and its consequent financing will allow France to move away from its reliance on Russia. “In the current geopolitical context, the purpose of this increase in enrichment capacities is to strengthen Western energy sovereignty in France,” said Claude Imauven, Orano’s board of directors chairman, in a statement. The French multinational company, specialised in the nuclear fuel cycle, said their increased uranium production capacities will allow them to supply energy to 120 million households. Enriched uranium is more efficient for energy production than natural uranium, as its fission reaction (atoms bursting and producing heat) is more easily obta

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Source and Credit: euronews.com

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