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Stock impact report

Global uranium tightness is squeezing Canada. Can it deliver fast enough? [BNN Bloomberg (Canada)]

Cameco Corporation (CCJ) 
Last cameco corporation earnings: 5/1 07:00 am Check Earnings Report
US:NYSE Investor Relations: cameco.com/invest
Company Research Source: BNN Bloomberg
Prices for the critical mineral are surging as utilities in the U.S., Europe, and Asia rush to secure long-term supply to fuel power plants, which is increasingly seen as a solution to climate change and power for data centres. With sanctions on Russian uranium and the world's top producer Kazakhstan facing its own mining challenges, Canada sits at the centre of the uranium squeeze with high grade deposits in Saskatchewan. But can it meet the world's demand? Actually, it's in “great shape to step up to the ball,” Brooke Thackray, research analyst at Global X, told BNN Bloomberg. “There really are not a lot of places to get uranium.” Even with 10 per cent tariffs on Canada's uranium , American companies, don't care because they've already spent billions on reactors that need the fuel, and they don't have time to grow their own industry, he said. “The U.S. is extremely dependent on Canada, and it's going to become more dependent on Canada,” said Thackray. Canada produces 13 p Show less Read more
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