Tuesday, February 28, 2012

Uranium CEO Says Supply Squeeze Coming

The Canadian Press reports that the CEO of one of the world's largest listed uranium companies "is warning of an impending uranium supply squeeze as projects are delayed or cancelled and global demand for electricity continues to grow despite the Fukushima nuclear crisis almost a year ago."
Last year, world consumption for uranium hit 165 million pounds, far outpacing the 143 million pounds produced, [Cameco] CEO Tim Gitzel told an investor conference Tuesday.

And that gap is only going to widen as 96 new reactors come online by 2021, Gitzel said, "which raises the big question: where is this production going to come from?"