Cameco Continues to Weather Storm While It Waits for Production Cuts to Help Weak Prices
The uranium market was relatively quiet in the first quarter of 2018, as uncertainty surrounding nuclear generation and supply lingered. Given the continued weakness in uranium prices, long-term contracting activity was markedly weak during the quarter, with only 10 million pounds contracted, compared with 28 million pounds last year according to Ux Consulting.Yet, Cameco has done what it can to make the best of a challenging and uncertain situation. 2018 production will be significantly lower ...
Cameco and its subsidiaries are engaged in the exploration for and the development, mining, refining, conversion and fabrication of uranium for sale as fuel for generating electricity in nuclear power reactors in Canada and other countries. Co. has three reportable segments: uranium, which explores for, mines, mills, purchases, and sells uranium concentrate; fuel services, which refines, converts and fabricates uranium concentrate, and purchases and sells conversion services; and electricity, which generates and sells electricity through its 31.6% interest in the Bruce Power Limited Partnership, which operates four nuclear reactors and manages the overall site in southern Ontario.
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