NexGen’s Rook 1 property. Credit: NexGen Energy
NexGen Energy (TSX, NYSE: NXE) (ASX: NXG) announced Wednesday it has secured a new offtake contract with a major US-based utility for the delivery of 1 million lb. of uranium per year over a five-year period. Shares of the company rose.
This agreement follows the first sales contracts announced in December 2024 for the supply of 5 million lb. of uranium to multiple US nuclear utility companies.
The new contract, says NexGen, would double its existing contracted volumes to a total of 10 million. It includes market-related pricing mechanisms that provide “significant leverage” to future prices at time of delivery.
The deal, it adds, reflects the “significant materiality” of its Rook I project in the future supply of uranium, at a time when sovereign and technical risk surrounding current production sources is at unprecedented levels…
