Cameco signs uranium deal with China Nuclear

Cameco’s headquarters building in Saskatoon. Credit: Cameco

Cameco (TSX: CCO), based out of Saskatoon, has announced that it signed a uranium apply agreement with China Nuclear International Corporation, a subsidiary of the China National Nuclear Corporation.

The contract, finalized earlier this year, was signed as part of the China International Import Expo 2022. 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 lb. that Cameco has added to its long-term uranium contract portfolio so far this year.

“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.”

Learn more about Cameco’s operations in Canada and elsewhere at www.Cameco.com.

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