Cameco announced today that is has signed a uranium supply agreement with the China Nuclear International Corporation.

The contract, finalized earlier this year, was part of the China International Import Expo 2022.

Cameco president and CEO Tim Gitzel says, “Cameco is very pleased to continue increasing our contribution towards the attainment of China’s important climate goals.” He says China is looking to nuclear energy to play a major role in its commitment to achieve net zero emissions.

The contract volumes comprise part of the 50 million pounds that Cameco has added to its long-term uranium contract portfolio so far in 2022.

The China Nuclear International Corporation is a subsidiary of the China National Nuclear Corporation (CNNC), one of the country’s largest nuclear power operators.