Cameco Enters $2.6 Billion Uranium Supply Agreement with India
Cameco has entered a long-term agreement to supply uranium ore concentrate to the Government of India's Department of Atomic Energy, for use in the country's fleet of nuclear reactors. The agreement will see Cameco supply nearly 22M pounds of uranium ore concentrate to India over a nine-year period on market-related price terms, with a total contract value estimated at approximately $2.6B. India currently has 24 operating reactors along with ambitious plans to deploy dozens more to reach 100 GW by 2047. Deliveries under the contract are expected to begin in 2027 and run through 2035 in alignment with Cameco's long-term contracting strategy. The volumes under this contract were included in the total long-term contracting volumes and in the expected five-year realized uranium price sensitivity analysis, disclosed in the 2025 annual management's discussion and analysis in February. Cameco's CEO Tim Gitzel attended an event in Delhi to celebrate the agreement alongside Indian Prime Minister Narendra Modi, Canadian Prime Minister Mark Carney and Saskatchewan Premier Scott Moe. Cameco previously supplied uranium to India under a five-year contract that began in 2015.
