The Premier of Saskatchewan is thanking Cameco for their handling of their recent troubles.
Low uranium prices have forced the Saskatchewan based company to temporary close the McArthur River and Key Lake Mill mines, leaving 845 people out of work.
Brad Wall pointed out on Thursday the price of uranium has been in free fall for a long time.
“Prices have dropped 70% since 2011, and Fukushima,” Wall said. ” As I was saying in the House in the debate, I remember that Fukushima happened when we were in India on a trade mission, we were there in part of course to promote pulses and potash.”
Wall added access to a market is difficult due to a lack of worldwide demand for uranium and said the government is working to deploy a rapid response team to help work with affected residents.
Despite Cameco saying closures could last ten months, Wall is confident the Saskatchewan based company has given the province every reason to believe they will be back up and running soon.
“I trust them is the bottom line, because of what was said and also how they’ve conducted themselves. I think it’s been reported they’ve slashed their dividend by 80%. It’s not just employees, sometimes you see companies if there’s a temporary layoff the dividends continue. That is not the case with Cameco,” Wall said.
Wall also stated, in order to for the industry to rebound, the government and nuclear companies need to continually encourage Aboriginal job growth.