Uranium – Production Overview
Production in our uranium segment in the fourth quarter was 9.6 million pounds, 17% higher compared to the same period in 2014 primarily due to the rampup of production at Cigar Lake. Production for the year was 28.4 million pounds, 22% higher than in 2014. See Uranium – operating properties for more information.
|Three months ended
|2015||2014||2015||2014||2015 Plan 1||2016 Plan|
|McArthur River/Key Lake||3.8||4.4||13.3||13.3||13.7||14.0|
|Cigar Lake||2.3||0.2||5.7||0.2||4.0 – 5.0||8.0 2|
|Total||9.6||8.2||28.4||23.3||26.3 – 27.3||30.0 2|
We remain focused on taking advantage of the long-term growth we see coming in our industry, while maintaining the ability to respond to market conditions as they evolve. Our strategy is to focus on our tier-one assets and profitably produce at a pace aligned with market signals in order to increase long-term shareholder value.
We plan to:
- ensure continued safe, reliable, low-cost production from our tier-one assets – McArthur River/Key Lake, Cigar Lake and Inkai
- complete rampup of production at Cigar Lake
- seek to expand production at McArthur River/Key Lake in conjunction with market signals
- manage the rest of our sources of supply in a manner that retains the flexibility to respond to market signals and take advantage of value adding opportunities within our own portfolio and the uranium market
- maintain our low-cost advantage by focusing on execution and operational excellence