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HISTORY
Nufcor International was incorporated as a company in the United
Kingdom in 1999. We are a joint-venture between AngloGold Ashanti
Limited and FirstRand
Limited which brings together expertise from the world’s
longest continuous uranium producer and marketer, with that
of an established financial and risk management institution.
Nufcor International’s sister company, Nuclear Fuels Corporation
of South Africa Limited (“Nufcor SA”), is wholly
owned by AngloGold Ashanti and was established in 1967 in Johannesburg
to process and market uranium concentrates to nuclear power
generators around the world. Nufcor International is now the
sole marketing agent for all uranium produced in the Republic
of South Africa.
CORPORATE STRATEGY
We bring our proven finance skills and risk management capabilities
to the global nuclear fuels market. Our goal is:
“to be at the forefront of the liberalizing nuclear
fuel market through provision of innovative financial and trading
solutions”
We will achieve this goal by:
- Maintaining a unique focus on clients across the nuclear
fuels industry to add value in trading, finance and risk
management activities;
- Providing outstanding service and long term client commitment;
and
- Providing bespoke products tailored to the needs of individual
clients.
OPERATIONS
Through our shareholder, AngloGold Ashanti, we have access to
extensive reserves of uranium concentrates (“U3O8”)
from the Republic of South Africa. Nufcor SA has recently celebrated
it’s 50th year of continuous uranium production. Although
production levels have declined since its peak in the early
1980’s, AngloGold Ashanti continues to produce approximately
850 metric tons of U3O8
per year. Potential future production far exceeds current mining
levels.
Worldwide annual demand for U3O8
was approximately 76,000 metric tonnes in 2005. This level of
demand should be maintained over the next 15-20 years. The overall
value of the global commercial nuclear fuels market is of the
order of US$ 14 billion per year with approximately US$ 7.5
billion of this attributable to U3O8
supply.
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