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NexGen doubles uranium sales volumes with new US utility contract

7th August 2025

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online

     

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Uranium developer NexGen Energy has doubled its contracted sales volumes to more than 10-million pounds, signing a second offtake agreement with a major US utility as the company advances its flagship Rook I project in Saskatchewan.

The new agreement secures the delivery of one-million pounds a year of uranium over a five-year period, beginning in the first year of commercial production. It follows NexGen’s inaugural sales contracts announced in December 2024.

“This contract reflects the significant materiality of NexGen’s 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 worldwide,” the company stated.

The latest deal incorporates market-related pricing mechanisms that provide significant leverage to uranium prices at the time of delivery, a cornerstone of NexGen’s offtake strategy.

“NexGen’s stated strategy simply optimises the value and return on each pound produced. It reflects Rook I’s relative technical simplicity and high production volume certainty, which provides our utility clients confidence in the delivery of their future fuel requirements. At the same time, it provides NexGen shareholders unprecedented industry leading leverage to prices at the time of those deliveries,” said founder and CEO Leigh Curyer.

Curyer noted that the company is currently managing a “substantial increase in offtake activity and negotiation", describing NexGen as a “future cornerstone of the global nuclear energy market".

“In an era defined by the intersection of energy security and national security combined with surging demand for electrification, NexGen's role in enhancing energy security and independence for its power utility clients has never been more critical,” he said.

The Arrow deposit currently has 229.6-million pounds of uncontracted reserves that will be sold “optimally in the future".

Edited by Creamer Media Reporter

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