Global Atomic (TSX: GLO) has finalized an offtake agreement with a Europe-based nuclear power utility. The arrangement, which is the fourth such supply agreement signed by the developer, is expected to begin in 2026.
The offtake agreement outlines the supply of 260,000 pounds of uranium per year for a three year period with the utility company, with pricing terms under the arrangement not disclosed. With the signing of this agreement, the firms Dasa project in Niger, which is expected to produce 68.1 million pounds of U3O8 over its 23-year mine life, has seen 12.5% of its estimated production contracted out.
The company is also said to have recently completed a request for proposal from an American utility company. The proposal is said to have outlined the supply of 700,000 pounds of uranium over a five year period beginning in 2028.
“Utilities continue to be active in the uranium market and securing supply in a dwindling uranium supply universe. This finalization of the European contract is a positive sign amid the geopolitical challenges in Niger and demonstrates the European utility’s confidence in our ability to finance and develop Dasa to begin yellowcake deliveries in 2026,” commented Stephen Roman, CEO of Global Atomic.
Global Atomic last traded at $0.77 on the TSX.
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