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)

Q2 2017 Update


Production was 29% higher for the second quarter, and 26% higher for the first six months compared to the same periods in 2016. Last year, outages to work on the existing calciner circuit, combined with the timing of the planned annual maintenance shutdown, resulted in reduced production during the first half of the year compared to 2017. This year, in alignment with our continued efforts to reduce costs, our production plan includes an extended summer shut-down during the third quarter. The shut-down consists 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, both of which are now underway. Production is expected to restart at the end of August. As a consequence of the summer shutdown, we expect third quarter production at McArthur River/Key Lake to be lower than the third quarter of 2016, which is expected to increase the quarterly unit production cost

McArthur River/Key Lake Production

Cameco's Share (million lbs)

  3 months ended
June 30
  6 months ended
June 30
2017 2016 Change 2017 2016 Change 2017 Plan
3.6 2.8 29% 7.2 5.7 26% 12.6

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.