Photo courtesy of cameco.com
Cameco is doing its best to manage the economic storm that has driven down the world price of uranium to its lowest level in over a decade.
Third quarter net earnings for the company were 142 million, compared to a four-million-dollar loss for the same quarter last year.
For the first nine months of the year, Cameco had net earnings of 83 million, up from 75 million for the first three quarters of last year.
“While we can’t control the market, we’re not idly waiting for the recovery we see coming,” said Cameco President, Tim Gitzel.
Gitzel says the company has adjusted production levels, optimized its contract portfolios and streamlined operations.