UAE Awards Uranium Contracts

Bloomberg reported the Emirates Nuclear Energy Corp. in theUnited Arab Emirates has awarded uranium supply contracts worth about $3 billion.

As quoted in the market news:

Rio Tinto Plc and Uranium One Inc. (UUU) will supply natural uranium, and Urenco Ltd. will provide enrichment services, Emirates Nuclear said in an e-mailed statement today. ConverDyn will provide conversion services, according to the statement.

Rosatom Corp.’s nuclear fuel trader OAO Techsnabexport, also known as Tenex, and Areva SA (AREVA) will supply uranium concentrates, conversion services and enrichment services, according to the statement.

Click here to read the full Bloomberg report.