Under the agreement, worth at least $4 billion at current prices, Cameco will supply Ukraine with uranium hexafluoride from 2024-2035, allowing the country to end its reliance on Russian fuel.
DEAL WORTH $4 BILLION
The two-year window to adjust volumes without limit offers flexibility well beyond the normal uranium contract adjustments of 5%-15% annually, Nick Carter, executive vice president of UxC LLC, an independent research firm focused on the nuclear fuel cycle, said.Article content “I think Cameco has more to lose here than the Ukrainians if the price were to continue higher,” Carter said.
To hedge against the risk of relying so much on a single supplier, Ukraine is trying to expand its domestic nuclear industry, Kotin said.While Ukraine will rely on Cameco for uranium, it has struck separate deals for further processing.
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