Cameco Sees Japan Uranium Recovery: Commodities

Two years after the Fukushima disaster caused some countries to abandon atomic power generation, Cameco Corp. says Japan is stepping up uranium imports on speculation the government will allow more idled reactors to restart.

Japanese utilities are accepting consignments of uranium under long-term contracts after previously deferring some shipments, according to Cameco, the world’s third-largest miner of the radioactive metal. The Canadian company expects as many as eight reactors in Japan will come back online this year, Chief Executive Officer Tim Gitzel said.