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Cameco Agrees to Supply Uranium to Guangdong Nuclear

Cameco Corp., the world’s second-largest uranium producer, agreed to supply the fuel to China Guangdong Nuclear Power Holding Co. through 2025 to meet rising demand in the world’s fastest-growing nuclear market.

Cameco plans to sell 29 million pounds of uranium concentrate to China Guangdong Nuclear, subject to the approval of the Chinese government, the Saskatoon, Saskatchewan-based company said in a statement yesterday. That’s equivalent to about 13,000 metric tons.