Cameco is cautiously optimistic with slightly improved uranium prices, but the company is far from making any decisions on possible new production.
That from President and CEO Tim Gitzel, addressing the crowd at a metals and mining conference in Florida.
Gitzel says the challenging market conditions have lasted longer than he has ever experienced before in his career, but he doesn’t believe the low prices are sustainable.
The reasoning for that is an ever-growing world population that needs access to power. There are 7-billion people in the world right now, with an expected 9-billion by 2050.
Gitzel cites the Japanese reactor restarts and construction in China as encouraging news.
The sixth anniversary of the Fukushima accident is just a little over a week away on March 11th.
The Cameco CEO says 2016 was not an easy year, with having to reduce the workforce by about 20-percent and closing down three of its operations in Wyoming, Nebraska and at Rabbit Lake in northern Saskatchewan.