News Local

Cameco to double uranium production

By Joyce Cassin, Northumberland Today

PORT HOPE -The nuclear energy industry is entering a renaissance and Jerry Grandey, president and CEO of uranium giant Cameco, says he is looking forward to reaping the benefits of the increased demand for reactor fuel.

He said their goal is to double uranium production, but according to Doug Prendergast, senior communications specialist for Cameco Port Hope, the push to double the uranium production is on the mining side of the business.

"It would mean that the fuel services would be able to offer a range of products and services to customers," said Prendergast on Tuesday.

Even though the uranium and conversion industries are linked, the demand and prices do not always follow the uranium market, he said.

"The bottom line is that the impact on the Port Hope conversion facility will depend on the conversion market," said Prendergast.

"We will continue to monitor the market.

"It's a long-term plan," added Prendergast.