Feb. 12, 2026 – EnergyReporter.news
SASKATOON — Cameco Corp. is increasing uranium production and securing new long‑term supply agreements as global demand for nuclear energy accelerates, positioning the company as one of the strongest performers in Canada’s energy sector heading into 2026.
Executives say rising interest in nuclear power — driven by energy‑security concerns, decarbonization targets, and the emergence of small modular reactors — has created one of the tightest uranium markets in more than a decade. Spot prices have climbed steadily, while utilities are increasingly shifting to long‑term contracting to secure supply.
Cameco has restarted production at key operations and is ramping output at its flagship Cigar Lake and McArthur River mines. The company says its tier‑one assets give it a competitive advantage as global supply remains constrained by years of underinvestment and geopolitical uncertainty.
Analysts note that Cameco’s joint venture with Westinghouse continues to strengthen its position across the nuclear fuel cycle, offering exposure to reactor services, fuel fabrication, and long‑term infrastructure demand. The partnership is viewed as a strategic hedge against market volatility while expanding Cameco’s role in the global nuclear ecosystem.
The company’s financial performance has been bolstered by higher realized prices, improved contract terms, and disciplined cost management. Executives say Cameco is well positioned to meet rising demand from both traditional reactors and emerging SMR developers.
For Canadian markets, Cameco’s momentum highlights the resurgence of nuclear energy as a cornerstone of global energy strategy, with the company standing out as a key beneficiary of the sector’s long‑term growth trajectory.
