Uranium One, a ROSATOM global mining company, has opened a trading company Uranium One Trading AG in Zug (Switzerland).
By establishing a trading company, Uranium One aims to increase its share on the international uranium market through spot and midterm transactions, support for the company's long-term portfolio of contracts, and development of a new direction – trading of metals and minerals in demand for "new" and nuclear energy as well as liquid exchange-traded metals.
“The establishment of a trading company is a response to new realities and market trends. This will allow us to respond more promptly to requests, to effectively meet customers’ needs, – said Vasily Konstantinov, the President of Uranium One Group. – The competition between traders in the field of long-term contracts on the global uranium market is growing. This is due to the fact that many world utilities have expanded their lists of potential suppliers with trading companies, which traditionally included only uranium producers before. Another market trend is the reduction of contracting period and the transition from long-term to midterm and spot contracts”.