Cameco’s Stock Falls, Not Panicking Over Quake
Monday, March 14, 2011 at 16:04
Cameco says it’s not panicking over the earthquake in Japan.
This morning, the company’s stock fell along with several other players in the Uranium industry.
Company C.E.O. Jerry Grandey says he knows 11 of the country’s 54 reactors have been closed since the quake happened.
However, he doesn’t anticipate the disaster will damage Cameco’s long-term plans.
He also still anticipates they will double their production by 2018.
Grandey says the expected start-up date for production at the Cigar Lake mine remains on schedule.
Meantime, the provincial government says it hasn’t given up on pursuing nuclear research in the future.
Minister responsible Rob Norris says a small nuclear reactor for research is an idea the government is looking into.
However, some questions have to be answered first.
Norris adds the safety of small nuclear reactors is something that will get a lot more focus because of the disaster in Japan.