McArthur/Key Lake

  • 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 more than 518 million lbs using a variety of mining methods.

McArthur River Video

Key Lake Video

Operation(As of December 31, 2016)
Cameco ownership, McArthur River (70%), Key Lake (83%)
1,299 people employed, 54% are from northern Saskatchewan
Production(As of December 31, 2016)
Average grade of 9.6% U3O8
Licenced to 2023
12.6 m lbs U3O8 annual production trend (Cameco's share)

Q3 2017 Update

Production

Production was 81% lower for the third quarter, and 11% lower for the first nine months compared to the same periods in 2016. This year, in alignment with our continued efforts to reduce costs, our production plan included an extended summer shut-down during the third quarter. The shut-down consisted of a four-week vacation period in July, followed by a two-week maintenance period at McArthur River and a four-week maintenance period at Key Lake. Planned work on the existing calciner circuit at Key Lake, combined with the timing of the planned annual maintenance shutdown, resulted in reduced production during the third quarter compared to 2017. Production was expected to restart at the end of August, however, the calciner work took longer than expected.

Additional work was required on the calciner in October, resulting in an unplanned outage at Key Lake. As a result, we have lowered our 2017 production target to 11.5 million pounds (Cameco’s share) from 12.6 million pounds (Cameco’s share).

Initial discussions to set the collective bargaining schedule with the United Steelworkers local 8914 have begun. We plan to begin contract negotiations prior to the current agreement expiring in December of this year.

McArthur River/Key Lake Production

Cameco's Share (million lbs)

3 months ended
September 30
  9 months ended
September 30
   
2017 2016 Change 2017 2016 Change 2017 Plan
0.6 3.1 (81)% 7.8 8.8 (11)% 11.51
  1. 1

    We have reduced our 2017 production plan to 24.0 million pounds (from 25.2 million pounds) due to reductions at McArthur River/Key Lake and Smith Ranch-Highland. 

See full Quarterly Report

Environment & Safety

Worker safety, environmental monitoring and proper decommissioning, after mining is completed, are of the utmost importance to Cameco.

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Reserves & Resources

Our mineral reserves and resources are the foundation of our company and fundamental to our success.

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Caution about Forward-Looking Information

Please click here for additional information about the assumptions applied in making the forward-looking statements on this page and the factors that could cause results to differ materially.