Cameco Cuts Long-Term Uranium Output On Slowed Demand

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.

Click here to read the full Financial Post report.