Proactive investorsLogo Proactive Investors UK Website

Search field
Get Adobe Flash Player Download
Flash
Player ►

And
Enable
Javascript

1 year chart

digital-look imported chart image

1 day chart

digital-look imported chart image
Additional information
Additional Information
Market: TSX, NYSE
Sector: General Mining
Epic: TSX:CCO
News: Latest news
Web Site: Cameco
Other Articles: 05-05-201009-12-200903-11-2009 
Warning (2): curl_setopt() [function.curl-setopt]: CURLOPT_FOLLOWLOCATION cannot be activated when in safe_mode or an open_basedir is set [APP/models/web_model.php, line 120]

RSS - Subscribe to the News Today on Proactive UK ▼

Thursday July 29, 09:30Specialist Energy Group Lays Out a Compelling Blueprint for Growth

After a difficult start to life as a stock market listed company, the company now stands at the threshold of a much brighter future. Legacy issues have been dealt with and the turnaround programme initiated by CEO Ewan Lloyd-Baker is gaining traction.

FULL ARTICLE ► 
Warning (2): curl_setopt() [function.curl-setopt]: CURLOPT_FOLLOWLOCATION cannot be activated when in safe_mode or an open_basedir is set [APP/models/web_model.php, line 120]

RSS - Subscribe to the News Today on Proactive AU ▼

Wednesday July 28, 11:30Silver Lake Resources boosts high grade gold resource by 70% to 2.5m ounces

Silver Lake Resources has added over 1 million ounces of gold to its resource inventory during the year after mining 66,700 ounces and expects further encouraging results at its  Mount Monger and Murchison projects.

FULL ARTICLE ► 
Warning (2): curl_setopt() [function.curl-setopt]: CURLOPT_FOLLOWLOCATION cannot be activated when in safe_mode or an open_basedir is set [APP/models/web_model.php, line 120]

RSS - Subscribe to the News Today on Proactive CN ▼

Thursday July 15, 02:10Henan Yuguang Lead & Gold investment in Kimberley Metals receives all clear from FIRB

Kimberley Metals (ASX: KBL) has reported that on 12 July the Australian Government Foreign Investment Review Board (FIRB) had no objections to Henan Yuguang Lead & Gold Co. Ltd's [...]

FULL ARTICLE ►
Cameco

Cameco

Cameco is the world's largest uranium producer accounting for 19% of world production from its mines in Canada and the US. Cameco has more than 500 million pounds of proven and probable reserves and extensive resources.

Cameco holds premier land positions in the world's most promising areas for new uranium discoveries in Canada and Australia as part of an intensive global exploration program.

Cameco is also a leading provider of processing services required to produce fuel for nuclear power plants, and generates 1,000 MW of clean electricity through a partnership in North America's largest nuclear generating station located in Ontario, Canada.

Thursday, May 28, 2009

Cameco says KazAtomProm arrests not impacting Inkai Uranium JV

by Dorothy Kosich, Mineweb.net company news image

Cameco President and CEO Jerry Grandey told shareholders Wednesday the recent arrest of the former head of KazAtomProm, along with seven senior executives of the state uranium company, has not impacted the Inkai joint venture.

The Kazakh executives were charges with making illegal sales of the country's uranium resources to foreign companies, including Canadian-based Uranium One.

In response to questions during Cameco's annual general meeting Wednesday, Grandey said the company had been aware for a while of the investigations of western companies active in Kazakhstan.  "So far we have been left alone," he said, and the company is being told "it is business as usual."

Grandey noted it took Cameco five years to get leases and licenses for its Inkai joint venture, which is 60% owned by Cameco and 40% by KazAtomProm because the Canadian company proceeded "in a very careful way" unlike other foreign uranium companies who were licensed very quickly.

Commercial production at the Kazakh in-situ recovery uranium mining project is expected this year.

Meanwhile, Grandey is very bullish on the future of uranium demand as 24 nuclear reactors are now under construction in China with five more projects to begin this year. Meanwhile, India's recent national election will give momentum to civilian nuclear reactor programs in that country, he suggested.

Grandey estimated that the world's nuclear reactors will consume 2 billion pounds of uranium over the next 10 years, and that 20% of that total (400 million pounds) will have to come from new uranium mines or expansions of current operations.

"As world demand rises, we intend to dramatically expand our own production and growth our market share," he said. Grandey told reporting that the company will go from producing 20 million pounds annually to 35 million to 36 million pounds yearly in the next 10 years.

He told shareholders at the AGM that the company's portfolio of long-term uranium contracts provides price protection for Cameco, and also enable the company to expand. Grandey estimated that 65% of Cameco contracts "will see price improvements flow directly to Cameco when the spot price improves."

In the meantime, Grandey noted that India and China are now searching for fuel, as the Japanese, Koreans and Chinese are "scouring the world for deals."

Cameco and its partners have 15.2 million hectares of prospective land, which Grandey is confident will help meet future uranium needs.

However, Grandey warned that it is "virtually impossible" for Cameco to run all its operations at 100% capacity when taking into consideration aging infrastructure. The company experienced a number of equipment failures last year, prompting Cameco to re-examine its preventative maintenance programs to ensure parts for critical pieces of equipment are located at mine sites.

Grandey said Cameco's plan to conduct major revitalization work while also maintaining production.

 

Mineweb is a web-based international mining publication focusing on mining financial and corporate news and comment.   

AddThis Feed Button
Register here to be notified of future Cameco articles.

Other Cameco news

More news ►

Investors interested in Cameco recently viewed


No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.