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Mining Summit-Cameco could make $2 bln deal-CEO
March 11, 2009 / 7:43 PM / 9 years ago

Mining Summit-Cameco could make $2 bln deal-CEO

(For other news from the Reuters Global Mining and Steel Summit, click here)

TORONTO, March 11 (Reuters) - Cameco Corp’s (CCO.TO) chief executive said on Wednesday the company may consider acquisitions in the $2 billion range, and predicted a supply crunch due to industry-wide development cuts and questions about Russian government uranium sales.

“We know that if we’re going to do a big deal in the M&A sphere we will have to go back and market it to our shareholders. We’re perfectly happy to do that,” Cameco CEO Jerry Grandey told the Reuters Global Mining and Steel Summit in new York.

He said that by "big deal" he meant something worth $1 billion to $2 billion or a little more. (For summit blog: blogs.reuters.com/summits/) (Reporting by Cameron French)

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