Following the successful floatation of Yellow Cake plc, NAC Kazatomprom JSC is pleased to confirm its long-term supply contract with Yellow Cake, which was signed on 10th May 2018, will now be implemented.
Under this agreement, Kazatomprom initially delivered just over 3,100t of uranium which represents more than a quarter of its production for 2018 and over 5% of global primary production (as forecast by UxC).
The agreement is long-term in nature, contemplating the delivery of up to $100m of uranium annually, at market related prices, for at least another 9 years, subject to and upon completion of subsequent follow-on offerings by Yellow Cake and certain other conditions.
Galymzhan Pirmatov, CEO of Kazatomprom said: “We are pleased to sign this supply agreement for a substantial proportion of our product. The listing of Yellow Cake helps meet the growing demand from investors seeking direct exposure to uranium prices.”