Canadian uranium provider Cameco will benefit from the “best fundamental we have ever seen” as the war in Ukraine has created demand in countries that had previously relied on Russian supplies, president chief executive officer Tim Gitzel said.

Gitzel told a conference call with journalists that interest in nuclear power had already been picking up as the world sought to decarbonise and reduce emissions, and the Russian supply gap has sped things up.

“Nuclear is back on with a vengeance and the Russia situation has just really pushed it forward,” Gitzel said. “Things are looking really good for us.”