Currently viewing Global edition

Uranium market 'unthawed', says Gitzel

Canada's uranium major Cameco is happy to wait out current uranium market inertia and hold back on reactivating top-tier mines in Canada and elsewhere, CEO Tim Gitzel told the CIBC Annual Western Institutional Investor Conference in Banff, Alberta this week.

Uranium market 'unthawed', says Gitzel Uranium market 'unthawed', says Gitzel Uranium market 'unthawed', says Gitzel Uranium market 'unthawed', says Gitzel Uranium market 'unthawed', says Gitzel

Operation of Cameco's McArthur River mine will remain indefinitely suspended until there has been a strong improvement in long-term contract pricing

"The reality is the sector remains unthawed. We haven't seen a whole lot of activity on the market. I think the utilities are waiting to see what happens next.

"We're out of the Section 232 piece ...