President and CEO, Tim Gitzel, shares his thoughts on Cameco and the industry in 2011 and the years to come.
2011 was a year of global economic, political and environmental challenges. The nuclear industry felt the effects of the events in Japan, which continue to unfold in ways that make it difficult to predict the near term with certainty. Germany announced an intention to move away from nuclear and Japan has not been clear on its plans.
At the same time, most of the 30 countries with a nuclear program have recommitted to nuclear, and the low uranium price is starting to cause some supply challenges. These factors, combined with a secondary supply that is starting to diminish, could speed an already tightening supply.