Long-term, Large-scale Uranium Sale and Purchase Contract in Uzbekistan

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ITOCHU and “Navoi Mining And Metallurgical Combinat” (NMMC), a state-owned company in the Republic of Uzbekistan, signed a long-term, large-scale sale and purchase agreement of uranium concentrates.

Nuclear power generation is regarded as a key option for curbing emissions of CO2, a cause of global warming. As such, there is concern that supply and demand for uranium concentrates, the fuel for nuclear power, could grow extremely tight in the near future.

With the long-term, large-scale sale and purchase agreement of uranium concentrates with NMMC for 10 years, we will remain committed greatly to the stable supply of nuclear fuel to Japan.

ITOCHU will proactively pursue in its investment in uranium resource development. And together with this new purchase contract from Uzbekistan, a world class uranium producing country, surely adds to energy security of Japan and enables to envision contributing an aggressive approach in its uranium business among those countries promoting nuclear power generation.