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Thursday
Oct302014

Uranium producer Cameco expects up to 5 pct fall in revenue

Chart courtesy of u308.biz

Oct 29 (Reuters) - Canadian uranium producer Cameco Corp said it expected full-year revenue to fall up to 5 percent as it trims production to account for labor issues at its mines.

Shares of the company, which reported lower-than-expected quarterly revenue, fell 4 percent to C$18.76 on the Toronto Stock Exchange on Wednesday.

Cameco trimmed its 2014 uranium production forecast to between 22.6 million-22.8 million pounds, from 22.8 million- 23.3 million pounds.

The company said it cut the production forecast to reflect the impact of labor issues at its McArthur River, Saskatchewan mine and Key Lake mill and lower-than-expected production from Cigar Lake mine.


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