NexGen Energy (ASX:NXG) has significantly expanded its sales portfolio, doubling its contracted uranium volumes with a new offtake agreement. The company has secured a deal with another US-based utility to supply 1 million pounds of uranium annually over a five-year period. This new contract effectively doubles NexGen’s existing contracted volumes, providing substantial leverage to future uranium pricing. NexGen Energy is a Canadian uranium-focused company that owns the Rook I Project in Saskatchewan’s southwest Athabasca Basin. The company’s Rook I Project holds 229.6 million pounds of uncontracted reserves, positioning it to capitalise on future sales opportunities.
According to CEO Leigh Curyer, the contract underscores the importance of NexGen’s Rook I Project in ensuring a stable uranium supply, particularly given the current global uncertainties surrounding production sources. He emphasised that Rook I’s reliable production volume gives utility clients confidence in meeting their future fuel requirements. The company believes it is becoming a cornerstone in the global nuclear energy market.
Curyer added that the increasing demand for electrification, combined with energy and national security concerns, has made NexGen’s role in enhancing energy security and independence for its power utility clients increasingly vital. This latest sales agreement follows NexGen’s initial sales contract, which was announced in December 2024. NexGen Energy has a market capitalisation of $6.08 billion.
