Cameco Signs Nuclear Fuel Agreement to Support Bulgaria’s Diversification Efforts

SASKATOON, Saskatchewan--(BUSINESS WIRE)--Cameco (TSX: CCO; NYSE: CCJ) has signed a 10-year supply contract to provide sufficient volumes of natural uranium hexafluoride, or UF₆ (consisting of uranium and conversion services), to meet the full requirements of the Kozloduy 5 Reactor at the Kozloduy Nuclear Power Plant, the only nuclear generating station in the Republic of Bulgaria.

“This is Cameco’s first agreement to supply fuel for Bulgaria’s nuclear energy sector,” said Cameco’s president and CEO Tim Gitzel. “We are very pleased to add another market to Cameco’s global commercial portfolio and to expand our contributions to countries like Bulgaria that are seeking to enhance their energy security while affirming their commitment to carbon-free nuclear power in achieving their climate goals.”

The agreement, running through 2033, will see Cameco deliver a total of approximately 2.2 million KgU as UF₆ (the equivalent of about 5.7 million pounds of uranium concentrate, or U₃O₈).

Nuclear power accounts for more than one-third of Bulgaria’s electricity supply. Kozloduy 5 is one of two reactors operating in the country.

Profile

Cameco is one of the largest global providers of the uranium fuel needed to energize a clean-air world. Our competitive position is based on our controlling ownership of the world’s largest high-grade reserves and low-cost operations. Utilities around the world rely on our nuclear fuel products to generate safe, reliable, carbon-free nuclear power. Our shares trade on the Toronto and New York stock exchanges. Our head office is in Saskatoon, Saskatchewan.