It was revealed by the new CEO of Cameco, Mr. Tim Gitzel that a lot about the future is going to depend upon today’s decision of Germany about the nuclear power in Japan. He also said that the uncertainty in the matter has led to a negative impact on the nuclear fuel.

He was further of the revelation that there has been a drop of as much as 23% in the recorded profits of the 2nd quarter of the firm; the volumes of production have risen for the same. This can be taken as a positive respite in the matter.

“However, among almost all other long-established nuclear plant operators in the world, the German nuclear phase-out has not proven contagious”, he told analysts, during a conference call to discuss Cameco’s financial results.

According to a decision of Germany to part ways from the nuclear power, and the current nuclear status of Japan, Cameco is of the expectation that there is going to be a decline in the demand of Uranium. They say there is going to be a decline in the demand by 3%. It was added by Seitz that if Japan was to be totally out of the nuclear energy scene, about 17 to 18% of the contracts by Cameco would be out for resale.