Cameco posts loss on weak uranium prices, impairment charge

Thu Jul 28, 2016 8:05am EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

July 28 (Reuters) - Cameco Corp , the world's No.2 uranium producer, reported a quarterly loss due to weak uranium prices and a charge related to the suspension of its Rabbit Lake operation in northern Saskatchewan.

The company posted net loss of C$137 million ($104 million), 35 Canadian cents per share, attributable to shareholders for the second quarter ended June 30. This included an impairment charge of $124.4 million.

Cameco had a profit of C$88 million, or 22 Canadian cents per share, a year earlier.

Revenue fell 17.5 percent to C$466 million. ($1 = C$1.3170) (Reporting by Anet Josline Pinto in Bengaluru; Editing by Kirti Pandey)