Peninsula Energy awarded supply contract for US Strategic Uranium Reserve

Peninsula Energy Limited (ASX: PEN) announced the supply contract between the US Department of Energy (DOE) and Strata to provide domestically produced uranium concentrates to the US$75 million Uranium Reserve established by Congress in 2020.

Under this contract, Strata will supply 300,000 pounds of US-origin U3O8 for the Uranium Reserve. Strata was a competent provider under the terms of the solicitation and provided an initial offer to the US Department of Energy (DOE) in early August 2022. The delivery will be fulfilled with US-origin material currently held in the accounts of Strata. The approved pricing above the current spot and term pricing benchmark reflects the shortage of US-origin materials in the uranium market.

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