- Ur-Energy (URE) has signed a second multi-year uranium sales agreement with a leading nuclear fuel company
- The company’s total sales quantity under contract is now 500,000 pounds U3O8 per year beginning in 2024
- Ur-Energy is a uranium mining company operating the Lost Creek in-situ recovery uranium facility in south-central Wyoming
- Ur-Energy Inc. (URE) is down 2.50 per cent, trading at C$1.56 per share at 1:23 pm ET
Ur-Energy (URE) has signed a second multi-year uranium sales agreement with a leading nuclear fuel company.
The new sales agreement secures the annual delivery of 300,000 pounds of uranium concentrates (U3O8) over a five-year period beginning in 2024. The company anticipates the sales prices to be profitable on a company-wide, all-in-cost basis and to escalate annually from the initial pricing in 2024.
The agreement also allows both parties to further agree on establishing the 2029 commitment of 300,000 pounds before year-end 2026. The company’s total sales quantity under contract is now 500,000 pounds U3O8 per year beginning in 2024.
Ur-Energy had previously announced its initial multi-year agreement for sales of 200,000 pounds U3O8 annually beginning in 2023. However, that sales agreement is conditioned on Ur‑Energy securing additional contractual commitments to support a development decision.
The company is continuing its ongoing discussions with other nuclear fuel companies with the objective of layering in sufficient additional term offtake contracts to incentivize a ramp-up of production at Lost Creek.
John Cash, CEO of Ur-Energy, commented on the news.
“We greatly appreciate the faith placed in Ur-Energy to supply uranium to some of the largest players in the global nuclear industry. The confidence shown by these purchasers is based on our record of consistent, timely deliveries into our contractual commitments. We look forward to adding to our contract book and working with these and other purchasers in the future.”
Ur-Energy is a uranium mining company operating the Lost Creek in-situ recovery uranium facility in south-central Wyoming.
Ur-Energy Inc. (URE) is down 2.50 per cent, trading at C$1.56 per share at 1:23 pm ET.