Cameco Corp.'s recent production disruptions could lead to a spike in Uranium prices.

On Friday Cameco announced that it was suspending operations at its Port Hope uranium conversion plant after uranium was found in the soil beneath the plant. Cameco has not speculated on the cost of the delay which is anticipated to last at least two months.

Spot uranium prices have been slipping in recent weeks but the loss of Cameco's conversion facility is likely to impact the supply of UF6 to the point where prices will be pushed upward.