Could Cameco suspension kick-start the uranium sector?

Cameco Corp. [CCO-TSX; CCJ-NYSE] is temporarily suspending production at its Cigar Lake uranium mine in northern Saskatchewan. It said the move is a safety precaution that stems from the threat posed by the Coronavirus [COVID-19] pandemic. Cameco is one of the world’s leading uranium producers. Cigar Lake is the globe’s largest operating uranium mine and …

Kazatomprom may draw down uranium inventory if coronavirus cuts output

Kazatomprom, the world’s largest uranium producer, said Monday it could rely on inventories to meet future physical deliveries in the event U3O8 production is reduced or suspended at operations in Kazakhstan due to the coronavirus outbreak. “In the event that mine production or the ability to physically deliver material is impacted, Kazatomprom’s production decisions and …

Orano sees 10 more years for Niger uranium project

France intends to ensure the continuity of uranium production in northern Niger, Nicolas Maes, head of Orano’s mining business unit, said following an 11 March audience with Nigerien Prime Minister Birgi Rafini. This will mean ensuring that Orano subsidiary Somaïr can continue operating for as long as possible, or at least until the Imouraren project …

Iran’s uranium stockpile rises further, say media

Iran has tripled its stockpile of enriched uranium to 1,020.9 kg over the past three months and failed to provide International Atomic Energy Agency inspectors access to two undeclared sites, various news agencies reported yesterday. Citing confidential documents issued by the IAEA to its member states, they reported that Tehran had refused the IAEA access …

Future supply of uranium less predictable, says Cameco

Dual-listed Cameco remains on track to achieve its guidance for the full-year and has increased its revenue target for the year. According to CEO and president Tim Gitzel, the uranium company continues to demonstrate its resilience. During the third quarter, ended September 30, Cameco continued to deliver on its strategy, and further strengthened its balance sheet …

Uranium Week: Activity Reawakens

News that Kazakhstan intends to extend production reductions through 2021 sparked a return to buying interest in both the spot and term uranium markets last week. -Kazatomprom extends production cuts -Market interest returns after a dead August to date -No new Japanese restarts in 2019 “Kazatomprom does not expect to return to full production until …