Cigar Lake
- Cigar Lake is the world's highest grade uranium mine and is located in northern Saskatchewan, Canada.
- As the operator, Cameco developed an innovative jet-boring technique specifically for this challenging deposit.
- Commercial production began in May, 2015 with a total of 11.3 million pounds (100% basis) produced by the end of the year.
- Rampup to licensed capacity of 18 million pounds per year is expected in 2017.
- Cigar Lake's ore is processed 70 km northeast, at the McClean Lake mill, operated by AREVA.
Q1 2017 Update
Production
Total packaged production from Cigar Lake was 5% higher in the first quarter compared to the same period last year. The year-over-year increase is the result of the scheduled rampup of the operation.
Cigar Lake Production
Cameco's Share (million lbs)
| 3 months ended March 31 |
|||
|---|---|---|---|
| 2017 | 2016 | Change | 2017 Plan |
| 2.3 | 2.2 | 5% | 9.0 |
McClean Lake relicensing
AREVA’s Canadian Nuclear Safety Commission (CNSC) relicensing proceedings for its McClean Lake mill are well underway, with the hearings set for June. Its existing eight-year term ends on June 30, 2017, and it has requested a 12-year licence term as part of its renewal process.
Environment & Safety
Worker safety, protection of the environment and proper decommissioning after mining is completed, are of the utmost importance to Cameco.
Reserves & Resources
Our mineral reserves and resources are the foundation of our company and fundamental to our success.
Caution about forward-looking information relating to Cigar Lake
This discussion of our expectations for Cigar Lake, including our plans for 16 million packaged pounds (100%) in 2016, and full production of 18 million pounds (100%) in 2017, is forward-looking information that is based upon the assumptions and subject to the material risks discussed under the heading Caution about forward-looking information beginning on page 2 of our Q4 2015 MD&A.