Cameco of Canada produced only five million pounds U3O8 (1,923 tU) in 2020 as a result of the Covid-19 pandemic, but demand for nuclear power is growing with “a real focus” on decarbonisation and new technologies such as small modular reactors, the company’s president and chief executive officer Tim Gitzel said.
The fall in production was down from 9 million pounds U308 in 2019 and 9.2 million pounds U308 in 2018.
Citing estimates by UxC, Mr Gitzel also said the uranium market faces a shortfall of about 100 million pounds a year by 2035.
The fall in production was down from 9 million pounds U308 in 2019 and 9.2 million pounds U308 in 2018.
Citing estimates by UxC, Mr Gitzel also said the uranium market faces a shortfall of about 100 million pounds a year by 2035.
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