Market turmoil, if it persists, will likely drive up the price of uranium, Cameco's president and CEO said yesterday.

In a conference call with analysts and media, Jerry Grandey said lack of investment will delay new uranium production, thereby strengthening uranium prices in the longer term.

"Current financial uncertainty may also present opportunities, opportunities for partnerships; acquisition of assets at discounted prices will certainly materialize as time moves on," said Grandey.

The uranium market fundamentals are still strong, said Grandey, despite the general market meltdown...

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