TORONTO (Reuters) – Major Drilling (MDI.TO: Quote, Profile, Research, Stock Buzz) has been surprised by a rapid ramp-up of demand for its mine-drilling services this year, the mirror image of a collapse in late 2008, its chief executive said on Tuesday.
“We lost 65 percent of our business in 90 days and it looks like it’s all coming back in 90 days,” CEO Francis McGuire told the Reuters Global Mining and Steel Summit.
TORONTO (Reuters) – Molycorp Inc (MCP.N: Quote, Profile, Research, Stock Buzz) has seen no impact on sales of rare earths to Japan in the aftermath of the country’s massive earthquake and tsunami, and the company is on track to hit its first-quarter sales targets, Chief Executive Mark Smith said.
“None of the companies or facilities that we sell material to have reported any significant damage in any of their manufacturing facilities,” Smith told the Reuters Global Mining and Steel Summit in Toronto on Monday.
TORONTO (Reuters) – Cameco Corp (CCO.TO: Quote, Profile, Research, Stock Buzz) remains confident that the long-term outlook for uranium is solid despite global anxiety over radiation from an earthquake-crippled nuclear plant in Japan, Chief Executive Jerry Grandey said on Monday.
Speaking to Reuters in an exclusive interview at the Mining and Steel Summit, Grandey said that while the so-called nuclear renaissance will be slowed by the crisis in Japan, more uranium will be needed in the next few years to fuel reactors already online and under construction.
TORONTO, March 17 (Reuters) – Shares of uranium producer
Cameco (CCO.TO: Quote, Profile, Research, Stock Buzz) closed at a six-month low on Thursday due to
rising concerns over an earthquake-shattered nuclear power
plant in northeastern Japan, and as governments from Australia
to the United States advised citizens to leave the region.
Cameco’s stock has plunged by more than 23 percent since
last Friday, falling almost 6 percent on Thursday, as concern
mounted over the long-term outlook for nuclear reactors and the
uranium that fuels them.
TORONTO (Reuters) – Shares of Cameco Corp (CCO.TO: Quote, Profile, Research, Stock Buzz) staged a stunning recovery from an 11 percent fall on Tuesday to close more than 1 percent higher, as investors became less rattled by the nuclear crisis in Japan.
The world’s No. 2 uranium producer closed at C$32.07, up 1.17 percent, after falling 22 percent over two days as Japan raced to avert a radiation catastrophe at a quake-crippled nuclear plant northeast of Tokyo.
TORONTO, March 15 (Reuters) – Shares of Cameco Corp
(CCO.TO: Quote, Profile, Research, Stock Buzz) fell more than 10 percent on Tuesday morning as the
nuclear crisis intensified in Japan and investors continued to
flee companies that build nuclear reactors and produce the
uranium that fuels them.
Shares of the world’s No. 2 uranium producer fell to
C$28.33 after a quake-crippled nuclear power plant in
northeastern Japan exploded and sent low levels of radiation
toward Tokyo. [ID:nLDE72D2FT] Cameco shares have tumbled more
than 22 percent in two days.
SINGAPORE/TORONTO (Reuters) – The nuclear power industry took a beating as governments addressed its safety and investors bailed out of stocks because of the crisis enveloping a Japanese nuclear power plant. But the United States government offered some support.
Germany has suspended an agreement to extend the life of its nuclear power stations, Switzerland put on hold some approvals for nuclear power plants, and Taiwan’s state-run Taipower said it was studying plans to cut nuclear power output.