Cigar Lake
- Cigar Lake is the world's highest grade uranium mine and is located in northern Saskatchewan, Canada.
- Since commissioning in 2014, the site has produced a total of 82.9 million pounds (100% basis). Commercial operation began in May 2015.
- As the operator, Cameco developed an innovative jet-boring technique specifically for this challenging deposit.
- Cigar Lake's ore is processed 70 km northeast, at the McClean Lake mill, operated by Orano.
2020 Q1 Update
Production
Total production from Cigar Lake was 13% lower in the first quarter compared to the same period last year.
On April 13, 2020, in conjunction with Orano, we announced an extension of the suspension of production at Cigar Lake for an indeterminate period. With the impact of COVID-19 continuing to escalate, we determined that the Cigar Lake workforce will need to remain at its current reduced level for a longer than the four-week period announced on March 23, 2020.
The precautions and restrictions put in place by the federal and provincial governments, the increasing significant concern among leaders in the remote isolated communities of northern Saskatchewan, and the challenges of maintaining the recommended physical distancing at fly-in/fly-out sites with a full workforce, were critical factors we considered in reaching this decision. The operation is in a safe state of care and maintenance.
Orano has also extended the suspension of production at its McClean Lake mill.
Our share of the cash and non-cash costs to maintain Cigar Lake during the suspension, and our contribution to the care and maintenance costs at McClean Lake are expected to range between $7 million and $9 million per month.
Cigar Lake Production
Cameco's Share (million lbs)
| 3 months ended March 31, 2020 |
||
|---|---|---|
| 2019 | 2018 | Change |
| 2.1 | 2.4 | (13)% |
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
This page may contain forward-looking information that is based upon the assumptions and subject to the material risks discussed on page 2 of Cameco's most recent Quarterly MD&A.