Dallas-based Uranium Resources (TSE) and its wholly owned subsidiary, URI, have signed a long-term contract to supply 1.3 million lb. of uranium oxide to a major U.S. electric utility.
The contract, worth an estimated $US22 million, started at the beginning of 1994 and is expected to last until the year 2002. It raises to almost 3.9 million lb. the total future contracted deliveries covered by five separate, long-term contracts. Revenues for the five contracts are expected to be about $US1.6 million, to be earned up to the year 2002.
In other news, the previously announced sale of 52% of URI’s stock to a group of partnerships associated with Concord is progressing. Concord is a Denver, Colo.-based company engaged in uranium mining and trading, among other interests.
URI owns substantial in situ uranium reserves in Texas and New Mexico.
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