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[cdn-nucl-l] Cameco Withdraws from US Enrichment Project
Posted on the Cameco news list on Mary 10, 2003 and at:
http://www.cameco.com/email_news03/news_release.php?id=38
Adam
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Cameco Withdraws from US Enrichment Project
Saskatoon, Saskatchewan, Canada, March 10, 2003
Cameco Corporation announced today that it no longer plans to join Louisiana
Energy Services LP (LES), the limited partnership that intends to build an
enrichment facility in the US using Urenco Limited advanced gaseous
centrifuge technology. Urenco is a leading European supplier of uranium
enrichment services, one of the interim steps in producing fuel for nuclear
power stations.
Cameco signed a memorandum of agreement in July 2002 as an initial step
toward entering a formal partnership. Even though Cameco supports the
project as a very important initiative for the nuclear industry with many
positive aspects, the company has concluded that involvement in the project
does not meet its requirements.
"Cameco has maintained a good working relationship with the quality partners
in the consortium and we would welcome the opportunity to cooperate with
them on future business opportunities," said Jerry Grandey, Cameco's
president and chief executive officer. He added, "Cameco remains committed
to our strategy of pursuing growth opportunities in the nuclear energy
business."
Cameco, with its head office in Saskatoon, Saskatchewan, is the world's
largest uranium supplier. The company's uranium products are used to
generate electricity in nuclear energy plants around the world, providing
one of the cleanest sources of energy available today. Cameco's shares trade
on the Toronto and New York stock exchanges.
Related news release: Cameco Pursues Uranium Enrichment Business (July 22,
2002)
- End -
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