New Uranium Production Still Needed to Meet Growing Demand

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Cameco CEO Jerry Grandey told analysts that he believes global uranium production may fall 5 million pounds short of originally projected macro forecasts this year for a total of 120 million pounds.

Cameco CEO Jerry Grandey said Wednesday, "The long-term fundaments of uranium markets remain strong. New production is needed to meet growing demand."

Meanwhile, Grandey told analysts that he believes global uranium production may fall 5 million pounds short of originally projected macro forecasts this year for a total of 120 million pounds.

Overall, however, Grandey suggested the production trend is up as junior uranium producers and others increase uranium production from 6 million to 8 million pounds.

Meanwhile, if the current turmoil in today's markets persists, Grandey advised, "the lack of investment will delay new uranium production and it will certainty strengthen prices in the longer term."

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