Uranium Energy has signed long-term uranium supply agreements with two U.S. nuclear utilities, covering a total of 1.1 million pounds of uranium concentrate. Deliveries are scheduled from 2027 through 2032, and prices will track the spot market rather than being fixed in advance.
The contracts extend the company’s unhedged sales strategy: they commit volumes for future delivery while leaving the price received tied to market conditions at the time of sale.
Key details
- Total contracted volume is 1.1 million pounds. Each agreement calls for 100,000 pounds per year. One runs from 2027 through 2032; the other runs from 2028 through 2032. That means scheduled deliveries total 100,000 pounds in 2027 and 200,000 pounds annually from 2028 through 2032.
- Pricing will be based on prevailing spot-market prices. The agreements have no price floors, ceilings, discounts or fixed pricing, according to the company. The utilities and specific pricing formulas were not identified.
- The agreements preserve Uranium Energy’s exposure to uranium prices. The company says it remains fully unhedged and cited an average realized price of $93.13 per pound in fiscal 2026 under its existing strategy.
- The company tied the contracts to broader demand for domestic uranium. It cited a National Nuclear Security Administration need for 4 million pounds per year of unobligated U.S.-origin uranium, with deliveries potentially beginning as soon as 2030. It also pointed to the U.S. Army’s plan to deploy more than 20 microreactors and described that effort as having a similar uranium requirement.
- Uranium Energy says its U.S. operations are positioned to supply future demand. The company cited its Texas and Wyoming operations and said it controls approximately 12 million pounds per year of production capacity across those platforms. It also said it is in discussions with other U.S. and international utilities; no additional agreements were announced.
Plain-English implications
The contracts secure buyers for specified volumes over several years, but they do not lock in sales prices or a set revenue amount. Uranium Energy will retain the benefit if market prices are higher when deliveries are priced, while also remaining exposed to lower prices.