![]() In fact, Fission has continued to improve the deposit’s resource estimate and to de-risk the project. The company has not been idle while waiting for world-class, independent engineering consultant, TetraTech, to complete the feasibility study. This crucial technical study is highly anticipated because the company’s pre-feasibility study (PFS), led by CEO and uranium expert Ross McElroy, clearly highlighted that the Triple R has the potential to have some of the world's lowest operating costs for uranium mining. PLS is home to the largest mineralized trend in the area and it hosts the Triple R - the only major, high-grade deposit found at shallow depth.įission expects to publish a feasibility study in the very near future. ![]() ( TSX:FCU ) ( OTCQX:FCUUF ) is developing the multiple-award-winning Patterson Lake South (PLS) uranium property in Canada’s Athabasca Basin. The Right Project in the Right Place at the Right Timeįission Uranium Corp. The country is also home to some of the only projects that are advanced enough to enter production this cycle. In fact, nuclear fuel buyers across the globe are shying away from major suppliers Russia and Kazakhstan amid ongoing conflict, making uranium projects in countries like Canada an important part of the nuclear resurgence.Ĭanada is the second-largest producer of uranium on the planet, accounting for roughly 13% of total global output, and has the world’s highest-grade uranium deposits. Rising M&A in North American uranium projects comes at a time when officials in Canada and the US are calling for greater uranium and nuclear cooperation between the two countries to help reduce US imports of uranium from Russia. Then, just four months later, UEC revealed its plans to acquire the world-class Roughrider uranium development project in Saskatchewan from Rio Tinto for $150 million. in an effort to “create the largest diversified North American focused uranium company.” The deal, which is valued at $192.7 million primarily of UEC stock, marks the largest M&A transaction in the North American uranium sector after the U1A acquisition by UEC in 2021. In June 2022, UEC bought Canada-listed UEX Corp. In December 2021, the company acquired Uranium One Americas. has also been on a uranium buying spree over the last year. The deal will give Cameco a 49% controlling interest in “one of the world’s largest nuclear services businesses.” One of the most memorable announcements in 2022 came in October when Cameco, one of the world’s largest uranium producers, and Brookfield Renewable Partners formed a strategic partnership to acquire Westinghouse Electric Company in a deal valued at US$7.8 billion. Last fall, Cameco signed a uranium supply agreement with China’s Nuclear International Corporation in a deal with confidential details that aren’t being publicly disclosed.Ĭameco’s shares rose by 2.87 per cent Friday to $37.25 on the Toronto Stock Exchange.Nations are turning their attention and budgets toward nuclear energy and it has spurred a series of sizable M&A deals in the space. “In fact, I am not sure there’s ever been a better time to be a pure-play investment in the growing demand for nuclear energy,” he added.Īt the end of last month Cameco announced that the Canada Revenue Agency had reassessed the company’s taxes for the years between 2007-2013 and would be refunding Cameco $300 million. “Our results demonstrate the strength and purpose of the strategic decisions we have made over the last several years, and the continued support we see developing for nuclear power around the world,” said Tim Gitzel, President and CEO of the company. The company produced 4.5 million pounds of uranium concentrate last quarter and aims to generate 20.3 million pounds this year. What do you mean the uranium miners are done for? #uranium #cameco #spx /6hcjgF5qq4 “Our recent contracting success to supply new markets in Eastern Europe clearly demonstrates the desire of our customers to diversify,” said Gitzel on Friday. Nuclear power generates about 33 per cent of the country’s electricity. Read more: Poland selects American manufacturer for country’s first nuclear reactorsĬameco also announced last week that it had signed a 10-year supply agreement with Westinghouse Electric Company, a subsidiary of Brookfield Business Partners (NYSE: BBUC, BBU) (TSX: BBUC, BBU.UN), to provide about 5.7 million pounds of uranium concentrate to the Kozloduy nuclear power station in Bulgaria - one of only two in the country. Read more: Fission Uranium applies to build mine in Athabasca Basin
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