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Article: Canadian uranium producer joins GE-Hitachi venture to enrich material for nuclear plants
- Article from:
- AP Worldstream
- Article date:
- June 20, 2008
CopyrightCopyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. (Hide copyright information)
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A Canadian uranium producer has joined a GE joint venture that aims to enrich the radioactive metal for nuclear power plants, the companies said Friday.
Cameco Corp., a uranium producer based in Saskatoon, Saskatchewan, will invest $123.8 million to acquire a 24 percent stake in the venture, Global Laser Enrichment, which is 51 percent owned by General Electric Co. and 25 percent owned by Hitachi Ltd.
Enriching uranium is a key part of producing fuel for light water nuclear power plants.
Fairfield-based GE and Tokyo-based Hitachi launched a joint nuclear business in July 2007 to capitalize on rising demand for electricity and concerns about carbon dioxide emissions ...