Opinion | The Faceoff: The return of nuclear power plants gives life to the uranium industry. Saskatoon-based Cameco’s stock is making gains while Denison mining is reviving up to capitalize

If you’re looking to add a little glow to your investment portfolio, the world’s biggest publicly-traded uranium miner might be a tempting target.

Between the Japanese announcement, and some musings by German chancellor Olaf Scholz that his country might extend the life of its nuclear plants amidst concerns over its supply of natural gas from Russia, uranium’s spot price has been on the move.For a company like Saskatoon-based Cameco, which produced more than million pounds of uranium in 2021, that should spell good news.

The biggest potential asset in Denison’s portfolio, a site called Phoenix in northern Saskatchewan’s Wheeler River area, is believed to contain almost 60 million pounds of uranium oxide. Denison has a 95 per cent stake in the project, which still needs to undergo regulatory approval.

Nuclear is clean and good for the climate

[revving up . . .]

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