Uranium Week: Upside For Demand And Supply

Cameco will restart furloughed production, at a slower rate, while European taxonomy has Macron eyeing off a swathe of new reactors.

-Cameco to restart McArthur River
-Macron wants to build 14 reactors
-SPUT piles back into the uranium spot market

Canada’s Cameco reported December quarter earnings last week, and revealed a new “supply discipline”, industry consultant TradeTech reports.The uranium miner’s McArthur River mine and Key Lake Mill, previously furloughed due to weak uranium prices and then covid, will restart production/processing in 2024 targeting 15mlbs annual U3O8 output. However 15mlbs is -40% below licensed capacity.Production at Cameco’s Cigar Lake mine will at the same time be reduced to an annual 13.5mlbs, or -25% below capacity. The net result is group production -33% below capacity.The intention is to extend the life of Cigar Lake, in a time of an unbalanced uranium market, and to postpone the need for new projects in […]

Click here to view original web page at www.fnarena.com

About the author: StockMan

Please remember:

The information provided here is for general knowledge and educational purposes only.
It is not intended to be a substitute for professional financial advice.
Every individual's financial situation is unique, and what works for one person may not work for another.
Before making any investment or financial decisions, you should always consult with a qualified financial advisor who understands your specific circumstances and goals.

Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, should never be acted upon. Please be aware that any information posted on this site should not be considered to be financial advice and i am not a financial advisor.