Cameco signs uranium supply deal with China

Nuclear Engineering International reports Cameco, the uranium giant has signed an agreement to supply uranium to China.

The deal with CNEIC, a subsidiary of China National Nuclear Corporation (CNNC), which operates seven reactors and has ten under construction, is Cameco’s first long-term supply agreement with a Chinese utility.

Cameco CEO, Jerry Grandey says:

“The agreement indicates clearly that we intend to be very active in the world’s fastest growing uranium market.” “The rapid expansion of nuclear capacity in China demonstrates the excellent prospects for nuclear energy and the solid underpinning of our plan to double uranium production by 2018.”

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