Posted in | News | Uranium

RWE AG Looks to Sell Stake in Urenco

By Joel ScanlonSep 6 2011

German utility company RWE AG is hoping to off-load its share in the uranium enrichment company Urenco. It owns the company jointly with E.ON AG and the UK and Dutch governments. The UK and Dutch governments both own one third of the company Urenco and RWE and E.ON own the remaining.

The UK government also wanted to quit the company by selling its share but was unable to do so in the wake of the nuclear disaster in Japan at the beginning of the year. The sale of the company stake is expected to be launched in October by the UK government.

U.K. Department of Energy and Climate Change was quoted as saying that the government was currently assessing its options with regard to the U.K.'s stake in Urenco.

A sale of the stake in the company would be a complicated matter as it would need the consent of other shareholders and a tripartite committee. In the UK the sale will also need to satisfy national security concerns about nuclear enrichment.

Urenco claims that it has captured 27% of the global market share for enriched uranium. The company made a profit of EUR 387.1 million in 2010 on the sales of EUR 1.3 billion worth of products.

Written by

Joel Scanlon

Joel relocated to Australia in 1995 from the United Kingdom and spent five years working in the mining industry as an exploration geotechnician. His role involved utilizing GIS mapping and CAD software. Upon transitioning to the North Coast of NSW, Australia, Joel embarked on a career as a graphic designer at a well-known consultancy firm. Subsequently, he established a successful web services business catering to companies across the eastern seaboard of Australia. It was during this time that he conceived and launched News-Medical.Net. Joel has been an integral part of AZoNetwork since its inception in 2000. Joel possesses a keen interest in exploring the boundaries of technology, comprehending its potential impact on society, and actively engaging with AI-driven solutions and advancements.

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Scanlon, Joel. (2019, March 19). RWE AG Looks to Sell Stake in Urenco. AZoMining. Retrieved on November 24, 2024 from https://www.azomining.com/News.aspx?newsID=4880.
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Scanlon, Joel. "RWE AG Looks to Sell Stake in Urenco". AZoMining. 24 November 2024. <https://www.azomining.com/News.aspx?newsID=4880>.
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Scanlon, Joel. "RWE AG Looks to Sell Stake in Urenco". AZoMining. https://www.azomining.com/News.aspx?newsID=4880. (accessed November 24, 2024).
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