Canada's Cameco meets 100% of Energoatom's needs for fuel for Ukrainian NPPs. Tim Hitzel, President and CEO of Cameco, said this in a video address to the participants of the International Conference "Nuclear Energy Opportunities for Country’s Development: Wartime and Postwar Reconstruction," organised by Energoatom, the company’s press service reports.
He also noted that the partnership includes technical recommendations to support uranium production in Ukraine.
At the same time, Tim Hitzel is convinced that cooperation between Energoatom and Cameco will only grow stronger as Ukraine plans to increase its nuclear capacity. Cameco can also support programmes for the construction of new power units in Ukraine, at the same time providing nuclear fuel for the existing nuclear fleet.
As a reminder, cooperation between Energoatom and Cameco began in 2019 with the signing of a Memorandum of Understanding in the nuclear energy sector.
In March 2023, the parties signed bilateral contracts to expand the current cooperation between the companies.
According to the contracts, Cameco is to supply 100% of Energoatom's uranium hexafluoride needs for the Rivne, Khmelnytsky and South Ukrainian NPPs from 2024 to 2035. Energoatom also plans to sell to Canada domestic uranium produced in Ukraine at the Eastern Mining and Processing Plant. The conversion of Ukrainian uranium will be provided by Cameco for the needs of Energoatom.
As reported by Ukrainian Energy, more than a year ago, in September 2023, the first batch of Ukrainian uranium mined at the Eastern Mining and Processing Plant was shipped to Canada. Cameco will use it to produce nuclear fuel for the needs of domestic nuclear power plants.
