2022-11-09 10:40:00
URANIUM FOR CHINA
N - 8 November 2022 - Cameco has signed a uranium supply agreement with the China Nuclear International Corporation, a subsidiary of the China National Nuclear Corporation (CNNC). The contract, finalised earlier this year, was publicised as part of the China International Import Expo 2022.
“China is counting on nuclear energy to play a major role in its commitment to achieve net-zero emissions, and CNNC is a large and growing part of that effort,” said Cameco President and CEO Tim Gitzel. “Cameco is very pleased to continue increasing our contribution towards the attainment of China’s important climate goals.”
Terms and details of the supply agreement are commercially confidential and will not be disclosed publicly. The contract volumes comprise part of the 50 million pounds that Cameco has added to our long-term uranium contract portfolio so far in 2022.
Cameco signed its first ever contract with China in 2009 and in 2010 it signed a long-term deal with China Guangdong Nuclear Power Holding Co Ltd to supply 29 million pounds of uranium concentrate by 2025 as well as a deal to supply 23 million pounds of uranium concentrate by 2020 to a division of CNNC.
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