CAMECO TO SUPPLY UKRAINE FULL URANIUM NEEDS THROUGH 2035
Energoatom, Ukraine’s state-owned nuclear energy utility, and Cameco Corporation, one of the largest global producers of uranium fuel based in Canada, have reached agreement on commercial terms for a major supply contract for Cameco to provide sufficient volumes of natural uranium hexafluoride, or UF6 (consisting of uranium and conversion services), to meet Ukraine’s full nuclear fuel needs through 2035. Key commercial terms, such as pricing mechanism, volume and tenor, have been agreed to, but the contract is subject to finalization, which is anticipated in the first quarter of 2023.
The 12-year agreement will run from 2024 through 2035, with all deliveries in the form of UF6. The contract will contain a required degree of flexibility, given present circumstances in Ukraine. The agreement will see Cameco supply 100% of Energoatom’s UF6 requirements (consisting of uranium and conversion services) for the nine nuclear reactors at its Rivne, Khmelnytskyy and South Ukraine nuclear power plants for the duration of the contract.
(Source: Cameco – Image: Rive NPP, Ukraine)