Cameco / Company Considers Mining Expansion As Nuclear Demand Increases

Canada uranium miner CEO says fundamentals best in 40 years

Company Considers Mining Expansion As Nuclear Demand Increases
Cameco’s Cigar Lake uranium mine in the Athabasca Basin of northern Saskatchewan, Canada. Courtesy Cameco.

Canada-based Cameco Corp, one of the world’s top uranium producers, is considering expanding some of its mining projects as global demand for nuclear power rises, according to its top executive.

“We’ve got some fantastic uranium ore bodies, and we’re looking to extend and expand those where we can,” chief executive officer Tim Gitzel said in an interview on Bloomberg Television.

Gitzel did not specify which projects the company might expand. Cameco has previously said that of its properties that may be developed into uranium-producing operations at some point in the future the most significant are the Millennium deposit in the Athabasca Basin of Saskatchewan and the Yeelirrie and Kintyre deposits in Australia.

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