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Financial Post reported Cameco (TSX:CCO,NYSE:CCJ) has cut its long-term uranium output on the expectation that nuclear demand will slow.
Financial Post reported Cameco (TSX:CCO,NYSE:CCJ) has cut its long-term uranium output on the expectation that nuclear demand will slow.
As quoted in the market news:
Canada’s Cameco Corp on Wednesday lowered its long-term uranium production target by 10%, a sharp shift in strategy in response to slower demand growth for the fuel after the Fukushima nuclear disaster.
The uranium market has been in a downward spiral since a massive earthquake and tsunami struck Japan in March 2011, crippling the Fukushima-Daiichi atomic power plant.