French nuclear industry giant, Areva, announced record losses on March 2, 2012.  They lost U.S.$3.2 billion!!!

The loss is directly tied to it’s incompetent African uranium mining operation (which looks like they bought a pig in a poke).  The French government is investigating, because Areva is actually a French government corporation, and they used taxpayer money to buy the pig in a poke mine!

Also, since the March 11, 2011, nuclear disaster in Japan, which has resulted in about 90% of their nuclear plants shut down, orders for fuel rods made by Areva have crashed!

Also, Germany’s decision to end the use of nuclear power plants will result in 1,500 Areva employees losing their jobs in that country.

On February 28, 2012, Areva announced it was “indefinitely” suspending its planned uranium enrichment project in Eastern Idaho.  Its called the Eagle Rock project.  Local contractors were notified in writing about the suspension.

Areva is trying to get money from the U.S. government. They were trying for at least $3 billion, but now, with such huge losses that won’t be enough!

Eastern Idaho is desperate for good paying jobs, and a lot of hopes were riding on the Eagle Rock project.