Energoatom to pay Cameco US$65.40 mln for export of uranium concentrate from Ukraine

State Enterprise National Nuclear Energy Generating Company Energoatom (SE NNEGC) has reported on a contract worth US£65.40 million, or UAH 2.4 billion, with the Canadian company ?ameco. The document provides for the processing of uranium concentrate in the production of nuclear fuel for Ukrainian NPPs.  Source: Our Money

The contract deals with services for weighing, sampling, analysis, storage and transportation of uranium concentrate in 2023-2035. It is noted that the cost of services is determined based on the actual volume of supply of uranium concentrate; current prices for weighing and sampling services; storage of uranium concentrate for the corresponding calendar year, and actual documented costs for transportation of uranium concentrate.

The purchase of services itself took place without bidding since, for technical reasons, there were no applications from other companies.    According to a contract signed on 19 March, Cameco will meet 100% of Energoatom's needs for natural uranium hexafluoride (UF6) during 2024-2035, providing it and uranium conversion services to the reactors of the Rivne, Khmelnytskyi and South Ukraine NPPs. 

A relevant opportunity is also provided for the Zaporizhzhia NPP after its complete liberation.

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Under the second contract, Energoatom will sell to Canada all uranium produced in Ukraine by the state-run Eastern Mining and Processing Plant. Cameco will provide the conversion of Ukrainian uranium.

Note: SE NNEGC Energoatom signed an agreement with the Canadian company Cameco, which is the last necessary stage for implementing the program for the use of Ukrainian uranium in the production of nuclear fuel for Ukrainian nuclear power plants.

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