Canadian mining company Cameco has signed a uranium supply agreement with China Nuclear International, a subsidiary of power group China National Nuclear Corporation (CNNC).
The contract, finalised earlier this year, was marked as part of the 2023 International Forum on Natural Uranium Industry taking place in Beijing.
“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 did not disclose the terms and details of the supply agreement.
The company noted that contract volumes were reflected in the 215-million pounds of uranium Cameco reported having under long-term contracts as of April 27, 2023, and the reported average delivery volumes of 28-million pounds a year from 2023 through 2027 as of June 30, 2023.