Business UpdateJul 15, 2026, 01:56 PM
Cameco Cigar Lake Mine Resumes Production; 2026 Outlook Unchanged
AI Summary
Cameco announced that its Cigar Lake mine in northern Saskatchewan has resumed production activities. The temporary suspension was due to challenges at Orano’s McClean Lake mill, where Cigar Lake ore is processed, but the mill has now also resumed operations. The company confirmed that its 2026 production outlook for Cigar Lake remains unchanged, between 17.5 million and 18.0 million pounds of U3O8 (100% basis).
Key Highlights
- Cigar Lake mine in northern Saskatchewan has resumed production activities.
- Production was temporarily suspended due to challenges at Orano’s McClean Lake mill.
- The McClean Lake mill has now resumed operations.
- Cigar Lake has begun shipping stockpiled ore to the mill.
- 2026 production outlook for Cigar Lake remains 17.5 million to 18.0 million pounds of U3O8.
Price Impact
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