BHP Billiton, Cameco Delay Uranium Projects

IBTimes reported BHP Billiton (NYSE:BHP,ASX:BHP) will delay its Olympic Dam for at least two years after Cameco (TSX:CCO,NYSE:CCJ) said it will delay its Kintyre project.

As quoted in the market news:

With these two massive projects now on indefinite hold, one could expect there will be some sort of impact on the uranium market’s supply-demand picture and subsequently on spot prices. One could thus not be blamed for coming to the conclusion that this summer could also mark a turning point for what are very undervalued uranium stocks.

Click here to read the full IBTimes report.