Cameco's Ukraine, Westinghouse Deals Point to Strong Uranium Outlook

February 10, 2023--Researched by Industrial Info Resources (Sugar Land, Texas)--The largest publicly traded uranium company in the world is upbeat about its 2023 prospects. Cameco Corporation (NYSE:CCJ) (Saskatoon, Saskatchewan) is positioning itself as a major player in the global nuclear-power sector through an agreement to provide Ukraine with much-needed uranium; a partnership to purchase a major nuclear-equipment manufacturer; and a large number of long-term uranium-supply contracts signed in 2022.

Industrial Info is tracking more than $750 million worth of active projects from Cameco, nearly 80% of which is attributed to a trio of uranium-mining projects in Saskatchewan. Cameco agreed to supply Energoatom, Ukraine's state-owned nuclear-energy utility, with enough fuel to meet all of Ukraine's nuclear-power needs through 2035. Cameco and Brookfield Renewable Partners LP (NYSE:BEP) agreed in October to purchase nuclear-equipment manufacturer Westinghouse Electric Company. With its growing number of long-term supply commitments, Cameco expects to return to its highest possible production levels--or "tier-one run rate"--in 2023.