Cameco CEO calms investors as uranium price, demand lags
Cameco reassured nervous investors Wednesday morning after deep cuts in Saskatchewan last month.
“We had anticipated things would get better sooner,” Cameco CEO Tim Gitzel said in the annual general meeting on May 11.
On April 21, Cameco cut 500 jobs and suspended operations at its Rabbit Lake mine.
In the release on their website the same day, the company also said production was curtailed at Cameco Resources’ US operations by deferring wellfield development, resulting in an additional 85 positions reduced.