The Executive Vice President and CFO of Cameco says there has never been such a large requirement gap in the history of uranium production as there is right now.
Cameco is the world's largest publicly traded uranium company, headquartered in Saskatoon, Saskatchewan.
Grant Isaac presented at the BMO Global Metals and Mining Conference in Florida last week. He explained that between now and 2040, utilities have to buy 2.1 billion pounds of uranium in order to meet their run-rate requirements.
“Here’s the really important part. The requirements curve does not factor in SMRs and ANRs…All of that over stuff is upside to this story.”
He says this provides huge opportunity for companies like Cameco, with opportunities for new construction.
To meet this need, Isaac adds that the uranium giant is looking to bring back reactors that have already been shut down, extending the life of operating plants, and renewing licenses on reactors they thought they were going to shut down.