Canadian mining company NexGen Energy has secured its first uranium sales contracts with several top nuclear utility companies in the US.
These inaugural, short-term agreements include market-related pricing mechanisms effective at the time of delivery, aligning with NexGen’s strategy to capitalise on future uranium prices.
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The contracts are in line with NexGen’s intent to become a new, reliable source of nuclear fuel from the tier-one jurisdiction of Saskatchewan, Canada.
NexGen Energy CEO Leigh Curyer said: “These offtake awards with premier US utilities represents a pivotal moment for NexGen. They underscore the premier quality and scalability of the Rook I Project, whilst offering diversification of supply from existing centralised sources. Further, the terms of these awards reflect market related pricing mechanisms at the time of delivery, reflecting NexGen’s long-term stated strategy of optimising the value of each pound produced.
“Energy demand from reliable sources is increasing by the week with the need to expand existing nuclear energy infrastructure and the construction of power-consuming data centres at a time the security of uranium supply is under significant technical and sovereign risk.”
Curyer added: “The contract awards are in parallel to ongoing discussions and negotiations with additional US, European and Asian utilities, which further complement NexGen’s strong financial position and construction-ready status at Rook I.
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By GlobalData“The project is poised to become one of the largest and most environmentally sustainable uranium operations globally. This milestone is another reflection of NexGen’s ability to execute on its strategic vision in advancing its position as a global leader in the nuclear fuel supply chain.”
The company secured provincial environmental assessment approval for its Rook I uranium project in Saskatchewan last year.
Last month, the final federal technical review of the project by the Canadian Nuclear Safety Commission was completed.
