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Cameco

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Flood-disrupted transport prompts production tweaks at Cameco's Saskatchewan sites
business16 days ago

Flood-disrupted transport prompts production tweaks at Cameco's Saskatchewan sites

A regional flood has closed the Smoothstone River Bridge, disrupting Cameco's main supply route to the McArthur River and Key Lake operations. Although the sites are not flooded, Key Lake mill production is temporarily halted and McArthur River mine activity reduced as delivery routes are restricted. Cigar Lake continues to operate. The timeline for resuming normal deliveries is unknown, potentially impacting Cameco's 2026 production outlook for McArthur River/Key Lake, while the company works with the Saskatchewan Ministry of Highways to minimize disruption and keeps the overall annual production plan unchanged for now.

via Cameco|
#business#cameco#flooding
business2 years ago

"Cameco's 2023 Q4 Results and Stock Outlook"

Cameco reported its 2023 fourth quarter and annual financial and operating results, highlighting increased sales volumes and realized prices in its uranium and fuel services segments. The company plans to increase tier-one production and extend the mine life at Cigar Lake, while also evaluating the expansion of production at McArthur River/Key Lake. Additionally, Cameco acquired a 49% interest in Westinghouse and expects strong financial performance in 2024. The company maintains a strong balance sheet and continues its disciplined long-term contracting strategy, with commitments for approximately 205 million pounds of uranium. Cameco also received dividends from JV Inkai and resolved a tax dispute with the Canada Revenue Agency.

via Cameco|
#business#cameco#financial-results
"Surge in Uranium Stocks Signals Potential for Third Bull Market Boom"
finance2 years ago

"Surge in Uranium Stocks Signals Potential for Third Bull Market Boom"

Shares of uranium companies such as Cameco, Denison Mines, and Uranium Energy surged after Kazakhstan's uranium mining company Kazatomprom warned of a sulfuric acid supply shortage, causing concerns about uranium production. The spot uranium market prices have tripled since early 2021, reaching over $100 per pound, driven by worries of insufficient supply to meet future demand, particularly for new types of nuclear reactors. The U.S. Department of Energy's plan to support high-assay low-enriched uranium production also contributed to rising prices, benefiting U.S. uranium companies. However, the soaring stock prices of these companies have raised concerns about valuation.

via Yahoo Finance|
#cameco#denison-mines#finance
business2 years ago

"Cameco's Strong Q3 2023 Performance Revealed in Latest Report"

Cameco, a Canadian uranium producer, has reported its third-quarter financial and operating results, highlighting the positive momentum in the nuclear energy industry. The company's gross profit has improved due to lower unit costs and higher average realized prices. The industry's contracting volume has reached a decade-high, and concerns over security of supply have boosted the full-year revenue outlook. Cameco also announced the appointment of Dominic Kieran as Global Managing Director of its subsidiary in the United Kingdom. The company remains committed to its long-term strategy and is focused on sustainable growth in the nuclear value chain.

via Cameco|
#business#cameco#financial-results
energy2 years ago

Cameco Secures Uranium Supply Deal with China Nuclear International Corporation

Cameco, a global provider of uranium fuel, has signed a uranium supply agreement with China Nuclear International Corporation, a subsidiary of China National Nuclear Corporation. The contract, which supports China's commitment to achieving net-zero emissions, was marked at the 2023 International Forum on Natural Uranium Industry in Beijing. The terms of the agreement are confidential, but the volumes are reflected in Cameco's reported long-term contracts and average annual delivery volumes.

via Cameco|
#cameco#china-nuclear-international-corporation#energy