As of July 2014, the price of uranium concentrate remained near a five-year low, the uranium price having fallen more than 50% from the peak price in January 2011, and reflecting loss of Japanese demand following the 2011 Fukushima nuclear disaster. Because of continued low prices, in February 2014 mining company Cameco put back plans to expand production from existing Canadian mines, although it continued work to open a new mine at Cigar Lake. Also in February 2014, Paladin energy suspended operations at its mine in Malawi, saying that the high-cost operation was losing money at current prices.