The president and CEO of Saskatoon-based Cameco expects the next 12 to 18 months to be interesting for the uranium industry.
Tim Gitzel says they are cautiously optimistic despite the low price of uranium, because there is still growth.
“Many of the countries that are installing nuclear capacities. Today our countries where massive segments of the population have little or no access to electricity and are demanding more and those populations are growing. Places like China and India where there’s a huge need for base load electricity and where clean air is a growing concern.” stated Gitzel
Cameco has suspended production at the Rabbit Lake mine, temporarily suspended Key Lake, and put Cigar Lake on an extended summer shut down.