Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
EDF, the power company that has been fully taken over by the French state and de-listed from the stock market, has signed a 10-year contract with aluminum company Trimet France, said the French government.
The contract will see EDF provide 22TWH volumes worth of power to Trimet France from 2024 onwards, and it will be formally signed on Monday.
The government launched a buyout for the 16% stake it did not already own in EDF in late 2022.
The French state stumped up around 10 billion euros ($10.9 billion) to take full control of the debt-laden operator of Europe’s largest fleet of nuclear power plants.
The buyout has formed part of President Emmanuel Macron’s renewed bet on nuclear energy, which includes building at least six new reactors in coming years.
($1 = 0.9180 euros)
(By Benjamin Mallet; Editing by Sudip Kar-Gupta and Jean-Stephane Brosse)
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