Orano launches arbitration against Niger over mining licence
The French nuclear fuels company move comes in response to Niger's cancellation of Orano's subsidiary mining licence.
Cameco Corp (CCO.TSX) remains confident that the long-term outlook for uranium is solid despite global anxiety over radiation from an earthquake-crippled nuclear plant in Japan, Chief Executive Jerry Grandey said on Monday.
Speaking to Reuters in an exclusive interview at the Mining and Steel Summit, Grandey said that while the so-called nuclear renaissance will be slowed by the crisis in Japan, more uranium will be needed in the next few years to fuel reactors already online and under construction.
Cameco, the world’s No. 2 uranium producer, plans to double production to 40 million pounds a year by 2018. With contracts in place through 2017, the crisis will not have a material impact on the company’s long-term outlook, Grandey said.
