The global nuclear power industry is in the early stages of a multiyear growth spurt similar to what the industry experienced in the late 1970s and ‘80s. What many have referred to as a nuclear renaissance will generate tremendous wealth for investors over the next few years.

Cameco Corp (TSX: CCO, NYSE: CCJ) is the 800-pound gorilla of the uranium mining industry and produced more than 21 million pounds of uranium in 2009, roughly 16 percent of global supply.  In 2009 Cameco was the world’s second-largest uranium producer, but the company plans to double its production by 2018.

One of the cornerstones of this expansion is the company’s long-delayed Cigar Lake project in Canada. This project’s peak annual output will be roughly 18 million pounds of uranium, of which Cameco is entitled to half. Cigar Lake was supposed to begin producing years ago but a cave-in and flood has taken years to repair. Lately, management has repeatedly stated that it is now on-track to start production from the mine in mid-2013.

In addition to Cigar Lake, Cameco is opening up new sections of its massive and prolific McArthur River mine in Canada. These new zones will allow the firm to boost production by as much as 85 million pounds in total over the next decade. And at Cameco’s Ink

The global nuclear power industry is in the early stages of a multiyear growth spurt similar to what the industry experienced in the late 1970s and ‘80s. What many have referred to as a nuclear renaissance will generate tremendous wealth for investors over the next few years.

Cameco Corp (TSX: CCO, NYSE: CCJ) is the 800-pound gorilla of the uranium mining industry and produced more than 21 million pounds of uranium in 2009, roughly 16 percent of global supply.  In 2009 Cameco was the world’s second-largest uranium producer, but the company plans to double its production by 2018.

One of the cornerstones of this expansion is the company’s long-delayed Cigar Lake project in Canada. This project’s peak annual output will be roughly 18 million pounds of uranium, of which Cameco is entitled to half. Cigar Lake was supposed to begin producing years ago but a cave-in and flood has taken years to repair. Lately, management has repeatedly stated that it is now on-track to start production from the mine in mid-2013.

In addition to Cigar Lake, Cameco is opening up new sections of its massive and prolific McArthur River mine in Canada. These new zones will allow the firm to boost production by as much as 85 million pounds in total over the next decade. And at Cameco’s Inkai joint venture (JV) in Kazakhstan, the company produced 1.3 million pounds of uranium in the first six months of 2010, exceeding the 1.1 million pounds produced in the entirety of 2009.

Cameco has the advantage of low mining costs. MacArthur River and Cigar Lake are the richest operating mines in the world, boasting ore grades that hover around 20 percent. (The global average is less than 1 percent).

I also like the company’s strategy of selling a portion of its production under long-term contracts and a portion on the spot market. This gives Cameco some upside during strong uranium markets while providing a degree of stability when spot prices decline. Cameco Corp is a buy under USD30

ai joint venture (JV) in Kazakhstan, the company produced 1.3 million pounds of uranium in the first six months of 2010, exceeding the 1.1 million pounds produced in the entirety of 2009.

Cameco has the advantage of low mining costs. MacArthur River and Cigar Lake are the richest operating mines in the world, boasting ore grades that hover around 20 percent. (The global average is less than 1 percent).

I also like the company’s strategy of selling a portion of its production under long-term contracts and a portion on the spot market. This gives Cameco some upside during strong uranium markets while providing a degree of stability when spot prices decline. Cameco Corp is a buy under USD30