Cameco Corporation Secures Long-Term Nuclear Fuel Agreement with Slovakia

Cameco Corporation (NYSE:CCJ) is one of the best Canadian stocks to buy now. On September 12,  Cameco announced that it finalized a new long-term agreement to supply natural uranium hexafluoride/UF6 to Slovenské elektrárne/SE, the largest electricity producer in Slovakia. The confidential contract covers both uranium and conversion services, aiming to provide SE with a diversified and secure source of natural UF6 through 2036.

The material supply is scheduled to begin in 2028 and will support the operation of SE’s Bohunice and Mochovce nuclear facilities. Cameco CEO Tim Gitzel stated that the agreement, celebrated by marketing teams from both companies in London earlier in the month, adds a new market to Cameco’s global commercial portfolio and is expected to enhance energy security in Slovakia and the region.

Branislav Strýček, Chairman and CEO of SE, emphasized the strategic importance of the contract, calling conversion one of the most critical parts of the nuclear fuel cycle. He noted that the deal guarantees a long-term and reliable supply of a significant share of this key raw material until 2036, enabling SE to diversify its suppliers and guarantee the smooth operation of its nuclear power plants.

Cameco Corporation (NYSE:CCJ) provides uranium for the generation of electricity. It operates through 3 segments: Uranium, Fuel Services, and Westinghouse.

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Disclosure: None. This article is originally published at Insider Monkey.