RHODIA : May 31, 2011: Areva and Rhodia sign agreement to develop deposits containing rare earths and uranim

Paris, May 31, 2011 ----- AREVA, ranked first in the global nuclear power industry and a key player in uranium mining, and Rhodia, leader in the production of rare-earth based formulations, have signed a memorandum of understanding (MoU) to develop deposits containing a mix of uranium and rare earth elements.

Under the terms of the agreement, the partners will combine their respective expertise and competencies to put together joint offers for the development and exploitation of hitherto unworked deposits containing the two strategic resources.

Eventually, the two parties could link up to conduct joint technical audits or studies of identified deposits, create specific joint-ventures or co-participate in mining projects carried out by AREVA or third parties. 

Sébastien de Montessus, Senior Executive Vice President of AREVA’s Mining Business Group said: “ThisMoU paves the way for the development of deposits with untapped potential and testifies to the synergies that exist between our two groups. It will give AREVA access to new uranium sources while contributing to ensuring supplies in strategic metals to companies such as Rhodia."

Frédéric Carencotte, Industrial Director of Rhodia Rare Earth Systems, said “This agreement represents a new step in the diversification policy initiated by the group to secure its access to the most sought-after rare earths. The combination of our industrial expertise in the treatment and purification of rare earth concentrates and AREVA’s know-how in uranium mining is a key factor for the success of the project”.

About AREVA

AREVA supplies solutions for power generation with less carbon. Its expertise and unwavering insistence on safety, security, transparency and ethics are setting the standard, and its responsible development is anchored in a process of continuous improvement. Ranked first in the global nuclear power industry, AREVA’s unique integrated offering to utilities covers every stage of the fuel cycle, nuclear reactor design and construction, and related services. The group is also expanding in renewable energies – wind, solar, bioenergies, hydrogen and storage – to be one of the top three in this sector worldwide in 2012. With these two major offers, AREVA’s 48,000 employees are helping to supply ever safer, cleaner and more economical energy to the greatest number of people.

www.areva.com

About RHODIA

Rhodia is an international chemical company resolutely committed to sustainable development. As a leader in its businesses, the Group aims to improve its customers’ performance through the pursuit of operational excellence and its ability to innovate. Structured around 11 Global Business Units (GBUs) within 5 business clusters, Rhodia is the partner of major players in the automotive, electronics, flavors and fragrances, health, personal and home care markets, consumer goods and industrial markets. The Group employs around 14,000 people worldwide and generated sales of €5.23 billion in 2010. Rhodia is listed on Euronext Paris.

Contacts

For AREVA

 [phone] – Fax [phone]    [e-mail]

For RHODIA

Media relations

Roxanne Diarra        [phone]              [e-mail]

Investor Relations

Maria Alcon             [phone]              [e-mail]

Benjamin Bruneau   [phone]              [e-mail]