Canada’s Cameco, the world’s second-biggest uranium producer, said on Tuesday it may not be finished cutting production as prices remain low after a major customer cancelled a supply contract.
Spot prices of uranium, used to fuel nuclear reactors, dipped to a 13-year low late last year and have rebounded only modestly in 2017. They have stayed stubbornly weak since a 2011 tsunami in Japan led to the shutdown of all the country’s nuclear reactors.
