stockwatch.com FP says Cameco may be in midst of a nuclear renaissance
2024-04-22 09:18 ET - In the News
The Financial Post reports in its Saturday edition that Tim Gitzel is accustomed to being overlooked by the organizers of the United Nations' annual climate change conference, a.k.a. COP. The Post's Joe O'Connor writes that the meeting attracts a who's who of the decarbonize-by-2050-or-else crowd to a different city each year. Mr. Gitzel, however, was never invited to join in the fun. The chief executive officer of Cameco, which supplies about 20 per cent of the uranium used to fuel zero-emissions nuclear reactors worldwide, joked that the only way he could get close to COP was to sit in the "McDonald's across the street" from the meeting. He says: "Nobody wanted to talk to us. Nuclear just wasn't on the agenda." Now, just about everybody wants to chat him up, including those at last year's COP28 in Dubai, where Mr. Gitzel was given "front-row billing" at a meeting that concluded with 22 countries, including Canada, making a commitment to triple nuclear energy capacity by 2050. In Canada, oil-rich Alberta is giving nuclear a look, as is coal-burning Saskatchewan, while Ontario is midstream in a multibillion-dollar refurbishment of its nuclear plants that will keep them splitting atoms for decades to come.