{"id":11027,"date":"2024-12-07T15:09:59","date_gmt":"2024-12-07T15:09:59","guid":{"rendered":"https:\/\/dailywashingtoninsider.com\/index.php\/2024\/12\/07\/nexgen-signs-first-uranium-contracts-will-sell-5-million-pounds-to-us-utilities\/"},"modified":"2024-12-07T15:09:59","modified_gmt":"2024-12-07T15:09:59","slug":"nexgen-signs-first-uranium-contracts-will-sell-5-million-pounds-to-us-utilities","status":"publish","type":"post","link":"https:\/\/dailywashingtoninsider.com\/index.php\/2024\/12\/07\/nexgen-signs-first-uranium-contracts-will-sell-5-million-pounds-to-us-utilities\/","title":{"rendered":"NexGen Signs First Uranium Contracts, Will Sell 5 Million Pounds to US Utilities"},"content":{"rendered":"<\/p>\n

NexGen Energy (TSX:NXE,NYSE:NXE,ASX:NXG) said on Wednesday (December 4) that it has set up its first uranium sales agreements with several leading US nuclear utility companies. <\/strong><\/p>\n

These contracts, starting in 2029, cover the delivery of 5 million pounds of uranium over a five year period and employ market-related pricing mechanisms to optimize returns by leveraging future uranium prices.<\/p>\n

The uranium will be sourced from NexGen\u2019s Rook I Project in Saskatchewan, Canada, which the company believes is positioned to become one of the largest uranium-mining operations globally. <\/p>\n

NexGen estimates that over 231 million pounds of uncommitted probable mineral reserves remain available.<\/p>\n

Rook I is currently in the development stage, with NexGen reaching a key milestone in the federal environmental assessment process in mid-November. The Canadian Nuclear Safety Commission let the company know that it has completed the federal technical review process and can now schedule a commission hearing date for Rook I. <\/p>\n<\/p>\n

After that happens, NexGen will receive an approval decision on the project from the commission. <\/p>\n

Leigh Curyer, NexGen\u2019s CEO, said on Wednesday that the company’s contracts with prominent US utilities demonstrate the project\u2019s quality and offer diversification for global uranium supply. <\/p>\n

The deals come amid increasing energy demand and heightened risks surrounding uranium supply security.<\/p>\n

The contracts outline annual deliveries of 1 million pounds of U3O8 starting in 2029. At varying price points \u2014 ranging from US$80 to US$175 per pound \u2014 NexGen projects significant gross sales revenues during the term.<\/p>\n

According to Curyer, the contracts reflect growing interest in expanding nuclear energy infrastructure to meet rising energy demands, while addressing supply chain vulnerabilities.<\/p>\n

\u201cEnergy demand from reliable sources is increasing by the week with the need to expand existing nuclear energy infrastructure and the construction of power consuming data centres at a time the security of uranium supply is under significant technical and sovereign risk,\u201d he said in the company\u2019s announcement.<\/p>\n

The news also comes as NexGen continues discussions with utilities in Europe, Asia and other regions.<\/p>\n

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.<\/strong><\/p>\n<\/p>\n

This post appeared first on investingnews.com<\/div>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

NexGen Energy (TSX:NXE,NYSE:NXE,ASX:NXG) said on Wednesday (December 4) that it has set up its first…<\/p>\n","protected":false},"author":1,"featured_media":11028,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25],"tags":[],"class_list":["post-11027","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing"],"_links":{"self":[{"href":"https:\/\/dailywashingtoninsider.com\/index.php\/wp-json\/wp\/v2\/posts\/11027","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailywashingtoninsider.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailywashingtoninsider.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dailywashingtoninsider.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dailywashingtoninsider.com\/index.php\/wp-json\/wp\/v2\/comments?post=11027"}],"version-history":[{"count":0,"href":"https:\/\/dailywashingtoninsider.com\/index.php\/wp-json\/wp\/v2\/posts\/11027\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailywashingtoninsider.com\/index.php\/wp-json\/wp\/v2\/media\/11028"}],"wp:attachment":[{"href":"https:\/\/dailywashingtoninsider.com\/index.php\/wp-json\/wp\/v2\/media?parent=11027"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailywashingtoninsider.com\/index.php\/wp-json\/wp\/v2\/categories?post=11027"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailywashingtoninsider.com\/index.php\/wp-json\/wp\/v2\/tags?post=11027"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}