Cameco forecasts new jobs, production at Saskatchewan mines (CBC Saskatchewan – July 27, 2022)

Quarterly earnings report touts new contracts, more jobs at McArthur River/Key Lake facilities

Saskatchewan’s uranium giant is expecting to add more northern Saskatchewan jobs and more cash to its bottom line this year.

Saskatoon-based Cameco, one of the largest uranium producers in the world, has issued its second quarter earnings report. It shows the company brought in $84 million in net earnings over a three-month period. According to president and CEO Tim Gitzel, the market has been positive in 2022.

“We are benefiting from higher average realized prices in both our uranium sales and our fuel services sales as the market continues to transition and geopolitics continue to highlight concentration of supply concerns,” he said in a news release issued Wednesday morning.

The release notes that the company has boosted its long-term uranium sales contracts this quarter and in May increased its ownership stake in the Cigar Lake mine in northern Saskatchewan.

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