Berkeley Energia Signs Uranium Sale Deal with Interalloys
28 Noviembre 2016 - 3:42AM
Noticias Dow Jones
LONDON--Berkeley Energia (BKY.LN) Monday said it has signed a
binding off-take agreement with Interalloys Trading Ltd. to sell
the first production from its Salamanca uranium mine in Spain.
The parties have converted a previously announced letter of
intent into a binding agreement that includes a doubling of annual
contracted volumes to a total of 2 million pounds ($2.5 million)
over a five-year period. The potential exists to increase annual
volumes further as well as extend the contract to a total of GBP3
million.
Berkeley is in talks with other potential off-takers about
contracts with terms similar to those outlined in the Interalloys
Agreement, with pricing at or around long-term benchmark levels for
term contracts.
While uranium prices may remain flat in the near-term, from
2018, when Salamanca is scheduled to come into production, Berkeley
said it expects the market to be dominated by U.S. utilities
looking to re-contract, who will also be competing with Chinese new
reactor demand, which may lead to higher spot and term contract
prices.
"We're receiving growing interest from major utilities looking
to diversify their off-take from a low-cost producer in Europe,"
Managing Director Paul Atherley said.
Shares at 0847 GMT were up 1.5 pence, or 2%, at 75 pence.
Write to Philip Waller at philip.waller@wsj.com
(END) Dow Jones Newswires
November 28, 2016 04:27 ET (09:27 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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