Cameco Posts Record Revenues

Cameco Posts Record Revenues

Thursday, January 27, 2005 at 14:20

Cameco Corporation enjoyed a banner year in 2004.

The Saskatchewan uranium mining giant says its revenues surpassed $1 billion for the first time in the company’s history.

Cameco’s net earnings increased 34 per cent.

The figures take into account the performance of the company’s holdings in northern Saskatchewan, Ontario and overseas.

The company credits rapidly rising uranium prices for its record-breaking year.

In fact, the spot price for uranium increased 43 per cent in 2004.

Cameco President and CEO Jerry Grandey says it’s a good time to be in the nuclear energy business.