Posted this on uranium forum but thought you guys might be interested too.
http://www.reuters.com/article/2014/03/13/areva-cameco-idUSL6N0MA32M20140313
The $10 billion company said the $2.6 billion mine will produce 2m – 3m pounds of uranium concentrate in 2014 and ramp up to its full production rate of 18m pounds by 2018 from the McClean Lake mill - That is more than the whole of Japan requires with all Nuclear plants on line.
Average grade will be a staggering 18.3%, proven and probably reserves of 108.4mlbs U3O8. Operating costs are expected to be a mere $18.60/lb. Not so great for all U companies that aren't Cameco.
World supply is about 125mlb/annum so this will add about 15% extra to the supply side by 2018.
With 435 Nuclear plants worldwide that means about 64 new plants need to come on line just to cater for this single mine's supply. That would mean all of Japan's reactors plus another 15 or so. In other words, in reality, this mine has more impact on the supply demand fundamentals than Fukushima did!!! When Olympic dam starts back up they will add half that again to Uranium supply.
Cameco have also trimmed back production at a lot of their other mines, so will be able to add a heap more supply when they want to.
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18 mlbs coming onto supply side
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