French-based uranium miner and nuclear fuels services provider Orano says it has bagged several new uranium mining and front-end services contracts worth more than US$450 million (?,?380 million).
The company reports increased demand for its mining activities and activities in the front end of the nuclear fuel cycle from its electricity utility customers, particularly in the United States, Europe and Asia.
"These contracts confirm the confidence of our customers in Orano. They make it possible to secure a long-term and reliable supply of uranium for our electricity utility customers," said SEVP for sales and marketing Patrick Champalaune in a media release.
For 2020, Orano's order intake amounted to US$2.26 billion (?,?1.9 billion).
A recent analysis by GlobalData shows worldwide uranium production will recover by 3.1% to reach 51,200 tonnes in 2021 as significant mines come back online following a Covid 19 hiatus.
The news comes as spot uranium prices, as assessed by UxC, ended June at US$32.25 per lb.