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BRIEF-Cameco rejects Tepco's uranium contract termination notice

Published 2017-02-01, 07:20 a/m
Updated 2017-02-01, 07:30 a/m
© Reuters.  BRIEF-Cameco rejects Tepco's uranium contract termination notice

Feb 1 (Reuters) - Cameco Corp CCO.TO :

* 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: ID:nMKW36lF6a Further company coverage: CCO.TO

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