May 17, 2022

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How Elkon Exor in Canada monetizes with uranium

Elkon said uranium investments will make a significant contribution to Exor’s performance in 2021. Exor partner (Canadian) companies and what they do

In a letter to shareholders of Exor Company, which holds the most important stake in Stellandis, Juventus, Ferrari and KD Publishing Group, Chairman John Elcon Explained “Uranium is one of the biggest positive contributors to our performance in 2021”, above all thanks to Canadian companies Cameco and NexGen Energy.

Cameco – Reads Letter – Largest Independently Listed Company for Handling Uranium; NexGen, on the other hand, develops “the world’s largest low-cost uranium project”.

What Elkon said

“We believe that nuclear energy will be key to tackling the three challenges of reducing energy shortages, electrifying industrial applications and converting fossil fuels,” Elgan said. Because nuclear power plants provide reliable and carbon-free energy, they are an excellent complement to non-renewable energy sources such as solar and wind, which depend on weather – sun and wind – for energy production, respectively.

“On the one hand, the demand for uranium is brighter than ever,” he argues. , In fact, many mining companies have reduced their investments and their shareholders – who are interested in dividends – are often opposed to spending on new productive capacity rather than the pursuit of budget austerity.

Like many raw materials, the price of uranium, the main fuel for nuclear fission reactors, has risen dramatically in recent years: its role in energy conversion and the impact of the war in Ukraine on supply chains. “In our opinion, however, prices need to increase further to encourage new projects, thus benefiting our investments, which are enjoying significantly lower price reserves,” Elkon said.

Russia and Canada

Russia alone produces about 35 percent of the world’s supply of enriched uranium for reactors, according to data compiled by UxC LLC. Bloomberg. Kazakhstan is the largest producer of crude uranium.

Jonathan Wilkinson, Canada’s Minister of Natural Resources, said another tug-of-war had involved himself with other countries interested in securing a stable uranium supply in view of the crisis with Russia.

Comeco’s role

Cameroon, a Canadian partner of Exor, is the largest uranium mining company in North America. Reached by Bloomberg Last month, however, he noted that he did not want to increase production compared to expected levels: on the contrary, he wants to follow a line Distribution disciplineOr the voluntary limit of the publication of its projects.

However, Cameco said that the supply of alternative uranium to Russia by energy companies was “in a very strong position”.

Partners and projects

The chairman and CEO of Cameco is Timothy Kitzel. The company is headquartered in the western Canadian province of Saskatchewan. Its income is up to 31 December They sum 1474.98 million Canadian dollars. Key corporate partners I Investment firms d. Row Price, William Blair and Vanguard Group hold 4.3 percent, 3.3 percent and 3.1 percent, respectively. Exor holds 2.4 percent stake.

Camego’s uranium projects are three: two in Western Australia (Yilirry and Kinder) and one in Canada, the Adabasca Basin (Millennium) in Saskatchewan. The company on its website Reveals Activities on platforms are reduced and their speed depends on “market signals”.

The guinea pig is estimated to have .5 53.5 million worth of uranium, Yeelirrie another மில்லியன் 128 million and millennium, instead, மில்லியன் 53 million.

What NEXGEN Energy does

Like Cameco, NexGen Energy is a Canadian company that specializes in uranium research and extraction. It is headquartered in Vancouver, Canada, but also in Saskatchewan, where it operates. It is listed on the Toronto Stock Exchange and the NYSE in New York. Chairman and CEO is Lee Courier.

Important Partner Mirae Asset Global Investments, NexGen’s finance group, with 4%.

The company focuses on the development of Rook I. The site – similar to Cameco’s Millennium – is located in the Athabasca Basin, Saskatchewan, and is considered the lowest cost project, initially expected to deliver 29 million tons of uranium per year. Five years.

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