Cameco hikes outlook despite earnings hit as demand for nuclear energy powers up

A Cameco employee in northern Saskatchewan. The Saskatoon-based miner expects to sell more uranium this year as demand for nuclear energy increases. Article content

Uranium miner Cameco Corp. has raised its consolidated revenue outlook for 2023 as demand for nuclear power grows in the transition away from fossil fuels, even as the company reported a 14 per cent drop in revenue in its second quarter.

The Saskatoon-based company on Aug. 2 said it expects to sell higher volumes of uranium this year, and also reported higher long-term contracting numbers. Article content

Article content Cameco said that as of June 30, its long-term commitments require an average annual delivery of 28 million pounds of uranium over the next five years as opposed to the 26 million pounds reported at the end of March. The company also said it hopes to deliver between 31 million and 33 million pounds of uranium this […]

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