Canada’s largest uranium miner, Cameco, has cautioned against investing in new uranium mines, saying that “even the promise” of new supply could create a headwind and put downward pressure on uranium prices.
The Saskatoon-headquartered company, which last year idled its McArthur River/Key Lake for an indeterminate duration, argues that much of the supply that have been removed from the market is the result of supply curtailment, not supply destruction.