A subsidiary of Dallas-based Uranium Resources (TSE) has signed a long-term uranium supply contract with a major U.S. electric utility. The deal calls for Uranium Resources to supply the utility with about 1.2 million lbs. of uranium oxide beginning in 1992 and extending to 1997.
The company estimates its revenues over the life of the contract will be nearly US$20 million, based upon projections of deliveries and price escalations.
President Raymond Larson said the new contract brings the company’s total future contracted deliveries to nearly 5.8 million lbs. through to 1997. The recent deal is just one of seven long-term contracts which represent total revenues of about US$120 million, he said.
The company produces uranium in south Texas using low-cost in situ solution mining techniques, and hold substantial uranium reserves in New Mexico.
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