By KYIV. Oct 31 (Interfax-Ukraine) – The situation in Ukraine has not affected UK investment fund Yellow Cake’s ability to buy products from Kazakhstan’s Kazatomprom.
The fund, which purchases and stores uranium oxide concentrate, known as U3O8 or yellowcake, said in a statement.
All U3O8 paid by the company is stored in the warehouses of Cameco in Canada and Orano in France, the fund said.
Yellow Cake refers to Kazatomprom’s statement, according to which a significant part of the products of the Kazakh company is exported mainly through the Russian sea port of St. Petersburg, which represents a certain set of risks relating to transit through the Russian territory, insurance and deliveries by ships. Kazatomprom continues to monitor the situation regarding sanctions against Russia, but as of now there are no restrictions.
Yellow Cake plc founded and established by Bacchus Capital to be a specialist company operating in the uranium sector with a view to holding physical uranium for the long-term. Yellow Cake signed a ten-year Framework Agreement for the supply of U3O8 with Kazatomprom to have an option to purchase up to $100 million of U3O8 each year for a period of nine years, starting from the Company’s IPO in 2018.
Yellow Cake currently holds 18.81 million lb of U3O8 in storage in Canada and France.
