By: Inspenet, November 4, 2022
The Canadian uranium company Cameco reported an improvement in its income at the end of the third quarter of this year. According to the company, this has been possible thanks to a greater demand for uranium in order to guarantee energy security in the world.
Another factor has been the growing acceptance of nuclear power to reduce carbon emissions. Cameco CEO Tim Gitzel explained that contracting discussions had been advanced for approximately £27m of long-term business.
In July, Cameco reported its second quarter results, noting the addition of 45 million pounds of uranium to the contract book since January. That number had risen to 50 million pounds by early October.
“This quarter, we’ve taken one more look at our portfolio of hiring discussions because it makes us pretty optimistic,” Gitzel said. Likewise, the mining company projected, upon completion of the new contracts, a total volume of uranium successfully contracted from the beginning of 2022.
He added that their portfolio of contract discussions remains large and they expect to see greater long-term demand in the market. “We will continue to exercise strategic patience in our contracting activity,” Gitzel commented, adding: “We expect around £77m. The total volume of contracted conversion services is expected to be about 14.5 million kg of uranium.”
This material from rumbominero.com was edited for clarity, style and length.
Source : https://www.rumbominero.com/canada/uranio-energia-ganancias-canadiense-cameco/
Photo: ShutterStock
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