- McArthur River/Key Lake, located in northern Saskatchewan, Canada is the world's largest high-grade uranium operation.
- In service since 1999 and 1983 respectively, Cameco operates the ISO 14001 certified locations, which have collectively produced 535 million lbs using a variety of mining methods.
2018 Q1 Update
Production was 97% lower for the first quarter compared to the same period in 2017 as a result of the planned production suspension beginning in February.
McArthur River/Key Lake Production
Cameco's Share (million lbs)
|3 months ended
Due to continued uranium price weakness, and in accordance with our announcement at the end of 2017, we have temporarily suspended production. During January 2018, activities at the mine and mill were focused on putting the operation into a state of safe care and maintenance. As a result of the suspension, and the time required to restart the mine and mill, we do not expect any additional production from the operation in 2018.
Our share of the cost to maintain both operations during the suspension is expected to range between $6.5 million and $7.5 million per month.
The collective agreement with the United Steelworkers local 8914 expired in December 2017, and the collective bargaining process has begun. There is a risk to the restart of operations after the production suspension if we are unable to reach agreement and there is a labour dispute.
Environment & Safety
Worker safety, environmental monitoring 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.