Under the contract, Areva will supply one million pounds of uranium concentrates to be used in fuelling the nuclear fleet for several years.

Areva CEO and president Michael Rencheck remarked that the company is keen to expand its commercial business with prime utilities in US.

"Every new agreement, like this one, is further validation that the nuclear industry relies on our strong safety culture, quality products, and the reliable services we provide," noted Rencheck.

Areva is a leading producer of uranium in the global arena and it produced a record 9,760 tons of uranium produced in 2012.