The president and chief executive officer of Canadian uranium company Cameco – which this week announced higher-than-expected core profit amid increases in uranium prices – has warned of “too much focus” on intermittent renewables and dependence on energy supplies from Russia.
Tim Gitzel said the move to intermittent, weather dependent, renewable energy, has left some jurisdictions struggling with power shortages and spiking energy prices, or dependence on Russia.
“We are benefiting from higher average realised prices in both our uranium sales and our fuel services sales as the market continues to transition and geopolitics continue to highlight concentration of supply concerns,” Mr Gitzel said.
…