Nuclear Revival Sparks Cameco Rally as Uranium Demand Is Growing
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Cameco Corp., the world’s second-largest producer of uranium, is emerging as a rare bright spot among Canada’s largest mining companies on signs nuclear power is shaking off its post-Fukushima slump.
Shares of Cameco have climbed 12 percent in Toronto in the past month. By comparison, Teck Resources Ltd., the world’s second-largest exporter of seaborne metallurgical coal, fell 16 percent and Barrick Gold Corp., No. 1 for bullion production, slid 18 percent.