Cameco Expects 86 More Nuclear Reactors By 2020

Cameco Expects 86 More Nuclear Reactors By 2020

Thursday, September 01, 2011 at 14:36

Despite a nuclear meltdown in Japan and a pledge by Germany to get out of the industry, uranium giant Cameco is optimistic about the future.

Company brass held a conference call with investors this morning.

Vice-president of marketing Tim Gabruch says the Fukushima nuclear disaster was the second-worst one in history and is still affecting markets worldwide.

However, he notes many countries still are going ahead with construction of new nuclear facilities, despite the impact.

Gabruch says the company expects the use of nuclear power to expand.

In fact, he says the number of operating nuclear reactors in the world is estimated to be 523 by the year 2020 — up from the current number of 437.

He says Cameco is also still proceeding with its own plans to double uranium production by 2018.