Reuters reported that nickel and zinc producer Talvivaara Mining was looking to recover uranium from its existing mine and to produce enough to make Finland almost self sufficient in uranium.

The London listed company plans to invest EUR 30 million to build a solvent extraction plant at its Talvivaara mine in eastern Finland and to produce about 350 tonnes of uranium oxide a year.

Liberum Capital said that production at that level at current prices of about USD 42 per pound would add EUR 44 million to Talvivaara's revenue. It also estimated the net present value of potential uranium production at EUR 370 million which it noted is 38% of Talvivaara's current market capitalization.

Liberum said that Areva would be an obvious buyer for a reliable and European source of uranium. Shares in Talvivaara were up 1.6% at 355.4 pence at 0804 GMT, valuing the FTSE 250 miner at 871 million pounds.

(Sourced from Reuters)