Slovenské elektrárne, Slovakia’s largest electricity producer, has signed a long-term contract with Canada’s Cameco to supply natural uranium hexafluoride (UF6), a key material used in the production of nuclear fuel.
The agreement, announced at the World Nuclear Association Symposium in London on 5 September 2025, covers the supply of uranium and conversion services for the country’s nuclear power plants at Mochovce and Bohunice from 2028 to 2036.
“Conversion is one of the most critical stages in the nuclear fuel cycle,” said Branislav Strýček, chief executive of Slovenské elektrárne. “This agreement guarantees a long-term and reliable supply of a key material, allowing us to diversify suppliers, reduce dependence on a single source and ensure the smooth operation of our nuclear plants.”
Conversion is the chemical process by which uranium oxide, or “yellowcake”, is transformed into uranium hexafluoride (UF6) — a compound that can be turned into gas for enrichment and further processing.
Tim Gitzel, Cameco’s chief executive, said the company was proud to “play a key role in securing nuclear fuel for Slovakia”. The deal, he added, expands Cameco’s presence into a new market while supporting “stable and reliable uranium supplies that strengthen energy security in the region”.
Slovenské elektrárne produces more than 87 percent of Slovakia’s electricity from nuclear energy, making it one of Europe’s low-carbon leaders. After shutting down its last coal-fired plant in 2024, the company’s entire production is now free of direct CO₂ emissions.
With a 60 percent share of Slovakia’s total electricity generation, the company operates five nuclear reactors, 31 hydroelectric plants and two solar facilities. It is majority-owned (66 percent) by Slovak Power Holding B.V., part of the Czech energy group EPH, while the Slovak state holds the remaining 34 percent.
Cameco is one of the world’s largest suppliers of uranium fuel, with ownership of some of the highest-grade, lowest-cost deposits globally and extensive investments across the nuclear fuel cycle.
