Ukraine's 12-year deal to buy uranium from Canada’s Cameco gives each side the right to change sales volumes with two years' notice. The unusual flexibility reflects the uncertainties caused by Russia's war and underlines the high stakes
The unusual flexibility of the deal announced in February, the details of which have not been reported previously, reflects the uncertainties caused by Russia's war with its neighbour and underlines the high stakes for both parties.
Prior to Russia's invasion of Ukraine in February last year, Ukraine ran its nuclear reactors on Russian fuel, producing 55% of the country's electricity.Last year Cameco restarted the world's largest high-grade uranium mine in northern Saskatchewan, as a more than decade-long slump in the sector eased, partly because of the Ukraine war and partly because of global efforts to reduce carbon emissions.
The deal will supply the nine reactors under Ukrainian control, with an option to supply six captured reactors in the southeastern Zaporizhzhia region if Ukraine retakes them.A spokesperson for Energoatom said there were no restrictions on how much either side can adjust the deliveries. Alternatively, if prices spike during the next 12 years, Cameco may be unable to fully cash in with so much production dedicated to Ukraine unless it scales back those sales, Carter added. He expects prices to continue rising in the next two years.
The main alternative to Cameco, French state-owned company Orano, told Energoatom it cannot supply it with more uranium until 2030, Kotin said. Orano declined to comment.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Canada's coronation delegation announced, astronaut Jeremy Hansen to carry Canadian flagThe delegation list also includes Indigenous and youth leaders, the clerk of the Privy Council, Janice Charette, who is the federal government\u0027s…
Read more »
'Canada in my blood': Charles's coronation follows half century of Canadian visitsLONDON — Last year, while still Prince of Wales, King Charles III opened a meeting of Commonwealth heads of government in Rwanda’s capital of Kigali and…
Read more »
Russia-Ukraine live updates: Russia says Ukraine tried to kill Putin in Kremlin with 2 dronesNEW: Russian forces have launched a 'complex air strike' with 'drones and missiles' on Kyiv, the Kyiv City Military Administration says.
Read more »
Canadian Man from Dildo Spots Penis-Shaped Iceberg in Open WatersA Canadian photog saw something that was, quite literally, rock hard out in the wild -- which had no problem standing up to the cold, frigid weather ... despite conventional wisdom.
Read more »
Canadian man charged over selling substance linked to UK deathsA Toronto man is alleged to have sold a lethal substance online, possibly to people in the UK and US.
Read more »
Canadian man charged with aiding suicide by selling lethal substance online | CNNCanadian police have charged a 57-year-old man with two counts of counseling or aiding suicide after he allegedly marketed and distributed a lethal substance online to individuals at risk of self-harm.
Read more »