February 1, 2017 / 12:24 PM / in 8 months

BRIEF-Cameco rejects Tepco's uranium contract termination notice

Feb 1 (Reuters) - Cameco Corp :

* Cameco rejects Tepco’s uranium contract termination notice

* Cameco Corp- on January 31, 2017, Tepco confirmed it would not accept a uranium delivery scheduled for February 1, 2017

* Cameco Corp - Tokyo electric power company holdings issued a termination notice for a uranium supply contract with co that “we do not accept”

* Cameco Corp- Cameco inc sees no basis for terminating contract, considers Tepco to be in default, and will pursue all its legal rights and remedies

* Cameco Corp- in 2017, Cameco’s consolidated revenue, including Tepco volume, is expected to range between $2.1 billion to $2.2 billion

* Cameco Corp - will be moving expeditiously to enforce its rights under uranium supply contract to recover losses arising from Tepco’s action

* Cameco - termination would affect approximately 9.3 million pounds of uranium deliveries through 2028, worth approximately $1.3 billion in revenue to cameco

* Says Cameco has sufficient financial capacity to manage any loss of revenue in 2017 as a result of dispute

* Cameco Corp - Tokyo electric power company holdings issued a termination notice for a uranium supply contract with co that “we do not accept” Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below