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Cameco Sets Production Outlook for Cigar Lake Uranium Operation, Canada

Published: January 11, 2016 |

[Click image to enlarge]

Cameco’s Cigar Lake operation is expected to produce 16 million packaged pounds of uranium concentrate (U3O8) in 2016 (Cameco’s share 8 million pounds).

Ore from the Cigar Lake mine is milled and packaged at the McClean Lake operation which is majority owned and operated by AREVA Resources Canada Inc.

The McClean Lake mill’s operating licence has a current annual production limit of 13 million pounds. AREVA plans to submit an application to the Canadian Nuclear Safety Commission to increase the mill’s licensed annual production limit. Full achievement of the 2016 production outlook for Cigar Lake is subject to securing regulatory approvals necessary to increase mill production.

Cameco will report the final 2015 production for Cigar Lake in its fourth quarter results on February 5, 2016.

The Cigar Lake mine is owned by Cameco (50.025 percent), AREVA Resources Canada Inc. (37.1 percent), Idemitsu Canada Resources Ltd. (7.875 percent) and TEPCO Resources Inc. (5.0 percent) and is operated by Cameco.


About Cameco
Cameco is one of the world’s largest uranium producers, a significant supplier of conversion services and one of two Candu fuel manufacturers in Canada. its competitive position is based on its controlling ownership of the world’s largest high-grade reserves and low-cost operations. Its uranium products are used to generate clean electricity in nuclear power plants around the world. Cameco also explores for uranium in the Americas, Australia and Asia. The head office is in Saskatoon, Saskatchewan.

To stop by Cameco’s website, CLICK HERE


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