OWNERSHIP:

Cameco Corporation (83%)
AREVA Resources (17%)

OPERATOR:

Cameco Corporation

DISCOVERED:

1975 by Uranerz Exploration and Mining Limited

OPERATION:

In operation since 1983, Key Lake is the largest uranium milling operation
in the world, processing approximately 15% of the world's annual U₃O₈ production in 2009.

CAPACITY:

The Key Lake mill is licensed to produce up to 18.7 million lbs. U₃O₈ (7,192 tonnes uranium) annually on average, not to exceed 20.4 million lbs. U₃O₈ (7,846 tonnes uranium) in any given year.

PRODUCTION:

19.1 million lbs. U₃O₈ (7,346 tonnes uranium) was produced in 2009. Key Lake processes ore transported from the McArthur River mine.

RESERVES:

0.7 million lbs. U₃O₈ (269 tonnes uranium) with an average grade of 0.56% U3O8. Mining no longer occurs at Key Lake.

PLANS FOR 2010

Continue work to renew mill facilities, secure tailings management capacity, and increase production capacity.

2009