- In the context of ongoing weak market conditions and our tier-one strategy, production has been suspended at our Rabbit Lake operation and the facility is transitioning into care and maintenance.
Rabbit Lake has produced more than 202 million pounds of uranium concentrates since production began at the northern Saskatchewan facility in 1975.
Q3 2016 Update
The transition of the Rabbit Lake operation to care and maintenance was completed at the end of August, at a cost of $39.6 million. The site will remain in a safe care and maintenance state for the remainder of the year at a cost of about $15 million. Additionally, the total severance cost of $10.6 million is included in our cost of sales and reflected in our results.
We are continually weighing the value of maintaining the operation in standby, against the cost of doing so. However, as long as production is suspended, we expect care and maintenance costs to range between $35 million and $40 million annually for the first few years.
Rabbit Lake Production
Cameco's Share (millions lbs)
|3 months ended
|9 months ended
Environment & Safety
Worker safety, environmental monitoring and proper decommissioning after project completion 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
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.