How U.S.-Russia tensions could revive Canada's struggling uranium mines
How U.S.-Russia tensions could revive Canada's struggling uranium mines
Gabriel Friedman
April 17, 2018 3:52 PM EDT
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Just months after Saskatoon-based Cameco Corp. laid off hundreds of workers and shuttered the largest high-grade uranium mine in Canada, the market for the radioactive metal used in nuclear power generation is suddenly in flux, as tensions between the U.S. and Russia flare.
Last week, in response to new U.S. sanctions, Russian lawmakers proposed measures that would halt enriched uranium exports to the U.S. — a move other countries could follow — which analysts believe could reset the supply and demand picture.
“The fact of the matter is it could potentially be quite explosive,” said Rob Chang, a former analyst with Cantor Fitzgerald, who now sits on the board of Fission Uranium Corp., an exploration company.
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