Ukraine is moving toward elimination of russian influence in its nuclear power industry, developing cooperation with Western partners and demonstrating to the world that the monopoly of the aggressor country can and must be destroyed.
As previously announced, Cameco will provide 100% of Energoatom's needs for uranium hexafluoride for Rivne, Khmelnytskyi and South Ukraine nuclear power plants from 2024 to 2035. The contract also provides for the possibility of supplying uranium hexafluoride for Zaporizhzhia nuclear power plant as soon as the legal operator, Energoatom, regains control over the plant.
“Developing strong and long-term cooperation with our strategic partners, such as Cameco, will strengthen Ukraine's energy security. Moreover, since nuclear generation produces up to 55% of the country’s electricity, the implementation of joint projects will help provide citizens with light and heat for years to come,” emphasized Petro Kotin, President of SE “NNEGC “Energoatom”.
“We are proud to stand with our partners at Energoatom to help Ukraine achieve energy security. Along with supplying vital nuclear fuel for the next 12 years, Cameco is providing expertise to assist Ukraine in its continued uranium mining activities. Through this partnership, we are committed to supporting the Ukrainian people by helping ensure stable access to nuclear fuel to meet the country’s energy needs today and into the future,” said Cameco President and CEO Tim Gitzel.
The previous announcement also included provisions for the sale of uranium, mined at SkhidGZK in Ukraine by Energoatom, to Cameco. Under the arrangement, Cameco will provide the uranium conversion services for the uranium produced at SkhidGZK.
Cameco has also agreed to provide advice on the modernization of three existing mine shafts that are part of SE SkhidGZK operation, which is the only one in Ukraine that produces and processes uranium ores.
