Rabbit Lake
The Rabbit Lake operation, which opened in 1975, is the longest operating uranium production facility in North America, and the second largest uranium mill in the world.
|
|
| Location | Saskatchewan, Canada |
| Ownership | 100% |
| End product | Uranium concentrates |
| ISO certification | ISO 14001 certified |
| Mine type | Underground |
| Estimated reserves | 22.8 million pounds (proven and probable), average grade U3O8: 0.70% |
| Estimated resources |
6.4 million pounds (indicated), average grade U3O8: 0.60% 10.3 million pounds (inferred), average grade U3O8: 1.24% |
| Mining methods | Vertical blasthole stoping |
| Licensed capacity | Mill: maximum 16.9 million pounds per year; currently 11 million |
| Total production: 1975 to 2012 | 190.1 million pounds1 |
| 2012 production | 3.8 million pounds |
| 2013 forecast production | 4.2 million pounds |
| Estimated decommissioning cost | $105 million (2008 estimate — currently under review) |
2012 Update
Production
Production this year was about 3% higher than our forecast for the year and similar to 2011 production.
Development and production continued at Eagle Point mine. At the mill we were able to achieve improved performance by replacing key pieces of mill infrastructure and improving the efficiency of the mill operation schedule.
In 2011, we received regulatory approval to begin exploration–related development and drilling on a new ore zone located about 650 metres northeast of the existing mine workings. In 2012, we completed a portion of the development work, and in 2013, plan to complete the development and continue drilling to further evaluate this zone.
Exploration
We continued our underground drilling reserve replacement program. Exploration work was completed directly to the east and northeast of the current mine workings and returned promising results.
Planning For the Future
Production
We expect to produce 4.2 million pounds in 2013.
Tailings capacity
We continued to enhance our milling processes and, as a result of improved settling of solid material in the tailings management facility, we expect to have sufficient tailings capacity to support milling of Eagle Point ore until about the end of 2017 (based upon expected ore grades and milling rates).
We are planning to expand the existing tailings management facility by the end of 2017 to support the extension of Rabbit Lake’s mine life and provide additional tailings capacity to process ore from other potential sources. We need an environmental assessment and regulatory approval to proceed with any increase in capacity.
Exploration
We will continue our underground drilling reserve replacement program in 2013. We plan to continue surface drilling in areas of interest east and northeast of the mine.
Reclamation
As part of our multi-year site-wide reclamation plan, we spent over $7.5 million in 2012 to reclaim facilities that are no longer in use and plan to spend over $2.7 million in 2013.
Managing Our Risks
We manage the risks listed here.