Cameco Owns the Refinery at the Center of Canada's Uranium Threat
The premier's list of things Canada could cut off runs straight through one company's fuel chain.
Overview
Ontario Premier Doug Ford told The Associated Press on Monday that Canada should be ready to cut off U.S. access to electricity and critical minerals if the trade dispute continues to escalate. He named high-grade nickel and uranium refined in Ontario in particular, and he said Ontario powers 1.5 million U.S. homes and businesses.
Uranium refined in Ontario mostly means uranium refined by Cameco (NYSE:CCJ). The company owns the Blind River refinery (by its own description, the world's largest commercial uranium refinery), and Blind River sits in Ontario.
Details
Nuclear stocks jumped Tuesday, with the growth stock rising about 4.6% to about $107 as of this writing. Whether that jump had much to do with Ford is hard to say, and I don't think it matters much.
Source
Originally published at www.fool.com.