The Cree Extension-Millennium project is a Cameco-operated joint venture located in the southeastern portion of the Athabasca Basin, approximately 35 km north of the Key Lake operation. The project includes the Millennium deposit which was discovered in 2000.
In early 2014, we submitted an application to the Canadian Nuclear Safety Commission (CNSC) as responsible federal authority to approve the environmental assessment and grant Cameco a construction and operating licence for Millennium.
In May 2014, Cameco wrote to the CNSC to withdraw our application, citing economic conditions that were not favourable to proceeding further with the Millennium approval. The scheduled June hearing for the EA and licensing was subsequently cancelled.
Cameco will continue to do some limited work related to Millennium in order to be in a position to resubmit our application should market signals indicate new uranium mine projects are required.
The exploration camp at the...
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