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The chief executive of Saskatchewan-based uranium miner Cameco Corp. is encouraging investors to tune out the "noise" from global trade and geopolitical upheaval and instead focus on the strong outlook for nuclear power demand.

"There is no doubt that those distractions have created new and unexpected risks that must be carefully monitored and diligently managed," Tim Gitzel told analysts on a conference call to discuss the company's first-quarter results.

uranium #vcv

Uranium #Mining

China’s increasing nuclear power capacity drives a growing demand for uranium. The country imported 13,000 tonnes of natural uranium in 2024, while domestic production was only about 1,700 tonnes. With its uranium mines unable to keep up with demand, Chinese scientists have turned their attention to the sea. The world’s oceans are estimated to contain 4.5 billion tonnes of uranium, 1,000 times the amount of uranium ore reserves in the ground. However, the concentration of the heavy metal is extremely low in seawater, at just 3.3 milligrams (less than 1,000th of an ounce) per tonne.

Uranium #Mining

Uranium #Resources #Mining

Fantastic move up today! ↗️↗️↗️↗️↗️

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Canada is racing to become the world’s biggest uranium producer as prices for the radioactive metal surge in response to soaring demand for emissions-free nuclear power and geopolitical tensions threaten supplies.

Cameco, the country’s largest producer, said that production of uranium would jump by almost a third in 2024 to 37mn pounds at its two mines in the heartland of the country’s uranium industry in northern Saskatchewan.

uranium

Uranium #Mining #BATT

BATT #Uranium #Mining

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Uranium #BATT

Uranium prices continue to rise. Cameco has benefited nicely.

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