Cameco promises patience as uranium market realigns

It will maintain a balanced and disciplined approach to supply decisions in the early stages of a security of supply-driven market transition, CEO Tim Gitzel said in the Canadian company’s quarterly results webinar. The company is on track to restart its Canadian operations but is delaying deliveries from its Kazakh operations until a new shipping route is finalised. Cameco is headquartered in Saskatoon, Saskatchewan (Image: Cameco) A not-previously-seen durability in the demand side is largely being driven by accountability for achieving the net-zero carbon targets being set at both country and company levels, with some 90% of the world’s economy now covered by net-zero commitments, he said. These targets are turning attention to a triple challenge: lifting one-third of the global population out of energy poverty; replacing the 85% of the current global electricity grid that runs on carbon-emitting thermal power with clean reliable alternative; and expansion of the […]

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