Billion Dollar Deal at Cameco - Time for Uranium Investments
(PresseBox) - Cameco is one of the world's largest uranium producers. News from Cameco is always interesting.
Until 2040, Cameco just commented, the nuclear fuel supply agreements with Bruce Power will be extended. This ten-year extension includes additional business between the contractors worth about $2.8 billion. The collaboration thus secures Canadian-produced nuclear power for decades to come. This is necessary to achieve net-zero goals. Affordable, low-carbon nuclear energy needed to generate electricity is thus guaranteed. Cameco has the world's largest high-grade reserves. Bruce Power is a publicly owned electricity company based in Ontario.
One thing is certain, interest in uranium has reawakened. But it is likely to be more the real demand for uranium that is driving up long-term prices. The Sprott Physical Uranium Trust is also steadily emerging as a buyer, as are utilities. That's because the lack of investment in uranium following the Fukushima disaster is fueling fears that uranium deficits are spreading. Pricewise, a pound of uranium cost around $40 at the end of 2021, rising to around $51 in 2022. Since 2007, these have been the biggest gains. Long-term uranium prices are also trending sharply higher. Since the beginning of the year, they have risen to 52 US dollars. Similarly, in 2022, long-term contracts are up 58 percent. Investors who back uranium companies like Uranium Energy or Consolidated Uranium can rejoice.
Uranium Energy - https://www.commodity-tv.com/play/mining-newsflash-with-karora-resources-uranium-energy-and-torq-resources/ - owns environmentally friendly projects, some of which are already operational (Canada, United States), as well as uranium interests. These include, for example, a stake in the only royalty company in the uranium sector.
Consolidated Uranium - https://www.commodity-tv.com/ondemand/companies/profil/consolidated-uranium-inc/ - is active in Australia, Argentina and Canada. In addition, uranium and vanadium mines in Utah and Colorado will be ready for start-up in the near future.
Up-to-date corporate information and press releases from Consolidated Energy (- https://www.resource-capital.ch/en/companies/consolidated-uranium-inc/ -) and Uranium Energy (- https://www.resource-capital.ch/en/companies/uranium-energy-corp/ -).
In accordance with §34 WpHG I would like to point out that partners, authors and employees may hold shares in the respective companies addressed and thus a possible conflict of interest exists. No guarantee for the translation into English. Only the German version of this news is valid.
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Unternehmensinformation / Kurzprofil:
Datum: 12.04.2023 - 17:58 Uhr
Sprache: Deutsch
News-ID 681328
Anzahl Zeichen: 4422
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Contact person: Jörg Schulte
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