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PALM BEACH, Fla., June 16, 2022 /PRNewswire/ -- Canada has a long record in the history of uranium mining. In Canada, uranium ores first came to public attention in the early 1930s when the Eldorado Gold Mining Company began operations at Port Radium, Northwest Territories, to recover radium. A refinery to produce radium was built the following year at Port Hope, Ontario, some 5000 km away. Canada is a country rich in uranium resources and a long history of exploration, mining and generation of nuclear power… To 2019, more uranium had been mined in Canada than any other country – 539,773 tU, about one-fifth of the world total. In 2020 it was overtaken by Kazakhstan/Uzbekistan according to a report from World-Nuclear.org. The report said that: "Production comes mainly from the McArthur River (currently suspended) and Cigar Lake mines in northern Saskatchewan province, which are the largest and highest-grade in the world. With known uranium resources of 606,600 tonnes of U3O8 (514,400 tU), as well as much continuing exploration, Canada has a significant role in meeting future world demand. The majority of Canada's uranium resources are in high-grade deposits, some one hundred times the world average… In the early 1990s, the Saskatchewan government had considered phasing out uranium mining in the province. This policy was later reversed after a joint Federal-Saskatchewan study panel on health, safety, environment and socio-economic impact found that the jobs provided by the industry would be hard to replace and that the environmental impact of mining could be minimized. Today, the provincial government actively supports uranium mining…" Active mining companies in the markets this week include Traction Uranium Corp. (OTCQB: TRCTF) (CSE: TRAC), Uranium Royalty Corp. (NASDAQ: UROY) (TSXV: URC), CAMECO (NYSE: CCJ) (TSX: CCO), FISSION URANIUM CORP. (OTCQX: FCUUF) (TSX: FCU), Paladin Energy Ltd (OTCQX: PALAF).
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