RE:RE:Cameco's announced cut is 12.5% of total world productionIsn't that some great news. Let's see what the next few days brings for the basin players.
Perfect timing to come out with a new resource estimateon fission. HUGE is right. Here's hoping.
Thanks for continuing to keep us informed quakes. Your posts are awesome.
quakes99 wrote: And to further add to future uranium demand, France has reversed course on its plan to start shutting down reactors between now and 2025, extending by another 10 years or longer. Those 58 reactors consume about 21M lbs/year... so that demand is going to continue much longer than had been anticipated by the market. The Cameco + Kazatomprom cuts for 2018 are more than the entire French fleet burn in a year. A Double Whammy!
And don't forget about the 11 additional nuclear reactors to be built as announced last week in Abu Dhabi at the IAEA world nuclear conference.
Timing couldn't be better.
Might even see a cut by KazAtomProm in coming days as well.
When it rains it pours!
Good luck to the patient longs. ;-)
quakes99 wrote: Production at McArthur River & Key Lake operations in 2016 was 8173 tonnes U3O8 according to WNA, about 18M lbs/yr. Total Global consumption for 2017 is estimated by WNA as 65,014 tonnes... so this shutdown represents about 12.5% of total global production.
Kazatomprom cut their production by 2000 tonnes for 2017/2018, so the total cut heading into 2018 is about 10,000 tonnes... 22M lbs/year... which is 15.5% of total nuclear reactor consumption.
HUGE!!!
Good luck to all. ;-)