Centrus, TENEX revise enriched-uranium contract

Centrus Energy Corp. and TENEX have reached an agreement that has modified a uranium contract between the two companies and grants an extension of their partnership until 2026, Centrus said recently.

Through this contract modification, changes to global demand for uranium enrichment are taken into consideration. TENEX has committed to the purchase of 17 million separate work units (SWU) of uranium through 2022. This was part of the original agreement, but the delivery of some quantities will be deferred until 2023-2026.

“Completing this contract revision has been a central priority since the day I arrived at Centrus,” Centrus President and CEO Daniel Poneman said. “The updated agreement reflects the changing fuel market and extends our supply arrangement for a decade, further strengthening the partnership between our two companies – a partnership that has played an indispensable role in U.S.-Russia nuclear cooperation for more than two decades.”

Centrus said both companies will be able to continue to build on cooperative efforts through the framework of this contract.

Centrus is focused on the development and supply of enriched uranium fuel for nuclear power plants in domestic and international markets. TENEX is a Russian company that  specializes in the logistics and transport of nuclear supplies and manages exports of Russian-made nuclear products.

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