Yellow Cake to buy 1.35 mln lb of uranium from KazatompromYellow Cake, the UK-based company operating in the uranium sector, has decided to buy 1.35 million pounds (lb) of uranium as part of its 2022 uranium purchase option under the Framework Agreement with Kazatomprom, Yellow Cake said in a press release.“Yellow Cake, a specialist company operating in the uranium sector, holding physical uranium for the long term, is pleased to announce that following the completion of the approximately £62 million share placing on 7 February 2023, it has informed JSC National Atomic Company Kazatomprom ("Kazatomprom") that it has elected to purchase 1,350,000 lb of U3O8 at a price of US$48.90/lb as part of its 2022 uranium purchase option under its agreement with Kazatomprom (the "Framework Agreement"). The Company expects to take delivery in the second half of 2023,” the press release says.This material will be delivered to Yellow Cake's storage accounts either in France or in Canada in the second half of 2023.  The exact delivery date and location will be agreed between the parties, according to the press release.Under the Framework Agreement with Kazatomprom, Yellow Cake has the option to purchase up to US$100 million of U3O8 per year from Kazatomprom at an undisturbed spot price, through to 2027.“This represents 1.35 million lb of additional U3O8 which is to be delivered into storage as part of Yellow Cake's long term buy and hold strategy, increasing the Company's total holdings to approximately 20.2 million lb of U3O8,” the press release says.Yellow Cake is a London-quoted company, headquartered in Jersey, which offers exposure to the uranium spot price. This is achieved through its strategy of buying and holding physical triuranium octoxide ("U3O8"). It may also seek to add value through other uranium related activities. Yellow Cake has a ten-year Framework Agreement for the supply of U3O8 with Kazatomprom, the world's largest uranium producer. Yellow Cake currently holds 18.81 million pounds of U3O8, all of which is held in storage in Canada and France.Kazatomprom is one of the largest producers of uranium in the world. The company also processes rare metals, produces and sells beryllium and tantalum products. Kazatomprom is under the management of Kazakhstan’s National Wealth Fund Samruk-Kazyna JSC. (ICE ALMATY)

Fonte notizia: INTERFAX