Cameco 'scouring the world' for uranium projects, with eye on Africa

Canadian uranium producer Cameco Corp. is shopping for development-stage uranium projects and will consider opportunities in Africa, the company's incoming chief executive said on Wednesday. Cameco is "scouring the world" for mines that could be in production within 10 years, said Tim Gitzel, who will take over the top job at the company on Friday. That global search could take the Saskatoon-based miner to Africa, the only major uranium-producing region in the world where it does not have operations. Cameco produced about 22.8 million pounds of uranium in 2010 from projects in North America and Kazakhstan. "We wouldn't hesitate to go to Africa if we could find a project that made sense to Cameco," said Mr. Gitzel, left.