TSXV:FMC - Post Discussion
Post by
GETaLONG on Dec 29, 2020 5:25pm
"Bad" is Good? Yes & 'No'....
"Uranium prices consolidated around $30 per pound, below a four-year high of $34 per pound hit in May as short-term supply concerns eased after Cameco and Kazatomprom, producers of more than half of the global supply, resumed the production after mine shutdowns earlier this year. These thttps://tradingeconomics.com/commodity/uraniumwo largest miners began cutting production in 2018 to lift the prices, leading to a supply deficit. The unexpected suspension of operations in March and April added to supply shortage as long-term demand is set to increase as the construction of 55 new reactors is underway."
U308 chart:
https://tradingeconomics.com/commodity/uranium
Old News,... [but 'new' to me (as I DD)]:
Globe says Cameco again halts Cigar Lake operations
2020-12-15 07:31 ET - In the News
The Globe and Mail reports in its Tuesday, Dec. 15, edition that Cameco is suspending operations at its Cigar Lake uranium mine in Saskatchewan for the second time this year to reduce the threat of further spread of COVID-19 into vulnerable northern communities as the province's coronavirus caseload soars. The Globe's Niall McGee writes that the province on Monday reported 267 new COVID-19 cases and two more deaths. A total of 12,238 people have tested positive for COVID-19 in Saskatchewan and 91 have died from the disease since the pandemic began. Located about 650 kilometres north of Saskatoon, Cigar Lake is the world's biggest uranium mine, accounting for about 14 per cent of global output. Cameco only restarted the mine in September after idling it for about six months because of the risk travel to and from the camp posed to Northern Saskatchewan communities. Over the past few weeks, six workers tested positive for the virus at Cameco's Northern Saskatchewan operations, including three at Cigar Lake. About half of the Cigar Lake work force flies in from Indigenous communities. Without ready access to world-class health care, they represent a particularly vulnerable segment of the population.
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