Cameco Corp.\u0027s shares rose to their highest since mid\u002DSeptember after the uranium miner increased its production outlook. Read more.
and a new agreement with Ukraine that could potentially be Cameco’s largest ever deal. The company’s bright prospects outweighed news that Cameco lost money in the fourth quarter.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails or any newsletter. Postmedia Network Inc.
On year, Comeco recorded net profit of $89 million, up from a loss of $103 million in 2021, when the company was still feeling the effects of a tough decade following the Fukushima nuclear disaster in Japan in 2011 that put a chill on demand for nuclear energy globally.Article content Small modular reactors have one-third the power generating capacity of traditional nuclear power reactors, are a fraction of the size and are easier to build. Critics, however, say there are better alternatives than depending upon nuclear power, since it produces radioactive waste that can be harmful.Article content
Cameco inked a deal with Ukraine’s state nuclear energy provider Energoatom that will meet the country’s nuclear requirements until 2035, the miner said. Cameco said it expects to supply 40 to 68 million pounds of uranium during the period.
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