RE:RE:How U.S.-Russia tensions could revive Canada's uranium minesQuakes99:
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FP says Cameco & Others Hear that Uranium Shortage Looms
2018-04-18 09:41 AT - In the News
See In the News (C-CCO) Cameco Corp
The Financial Post reports in its Wednesday, April 18, edition that the market for uranium is suddenly in flux, as tensions between the United States and Russia flare.
The Post's Gabriel Friedman writes that last week Russian lawmakers proposed measures that would halt enriched uranium exports to the U.S., which analysts believe could reset the supply and demand picture.
Fission Uranium director Rob Chang says Russia's move could "potentially be quite explosive." Uranium prices have declined by more than 70 per cent since 2011 when Japan took all its nuclear reactors off-line.
That contributed to an oversupply and depressed prices to the point that, at many mines, it costs more to produce uranium than to buy it on the spot market, which has largely put a pause on exploration and mining in Canada.
In January, Cameco laid off 845 workers and suspended operations at its McArthur River mining and Key Lake mill in Saskatchewan. Cameco spokesman Gord Struthers says it is too early to say whether U.S.-Russia tensions will affect operations. He says Cameco will only think of restarting operation if there is some change in uranium spot prices.
RBC rates Cameco "outperform" with a $15 share target.
© 2018 Canjex Publishing Ltd. All rights reserved
FP says Cameco, others hear uranium shortage looms
2018-04-18 09:41 AT - In the News
See In the News (C-CCO) Cameco Corp
The Financial Post reports in its Wednesday, April 18, edition that the market for uranium is suddenly in flux, as tensions between the United States and Russia flare. The Post's Gabriel Friedman writes that last week Russian lawmakers proposed measures that would halt enriched uranium exports to the U.S., which analysts believe could reset the supply and demand picture. Fission Uranium director Rob Chang says Russia's move could "potentially be quite explosive." Uranium prices have declined by more than 70 per cent since 2011 when Japan took all its nuclear reactors off-line. That contributed to an oversupply and depressed prices to the point that, at many mines, it costs more to produce uranium than to buy it on the spot market, which has largely put a pause on exploration and mining in Canada. In January, Cameco laid off 845 workers and suspended operations at its McArthur River mining and Key Lake mill in Saskatchewan. Cameco spokesman Gord Struthers says it is too early to say whether U.S.-Russia tensions will affect operations. He says Cameco will only think of restarting operation if there is some change in uranium spot prices. RBC rates Cameco "outperform" with a $15 share target.
© 2018 Canjex Publishing Ltd. All rights reserved