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Uranium

Cigar Lake Project

OWNERSHIP:

Cameco Corporation (50%)
AREVA Resources (37%)
Idemitsu Uranium Exploration Canada Limited (8%)
TEPCO Resources Inc. (5%)

OPERATOR:

Cameco Corporation 

DISCOVERED:

1981 by AREVA Resources U3O8

OPERATION:

Cigar Lake is the world's second-largest known high-grade uranium orebody.  When in production, the uranium ore slurry will be trucked about 80 kilometres to AREVA's McClean Lake mill for processing.

PRODUCTION: 

Ore production began in 2014 producing 400,000 lbs of U3O8. Of teh 400,000 lbs of  U3O8 produced , 340,000 lbs of U3O8 was milled and in drums by the end of 2014.  Full production is expected by 2017 based on current information.  Planned annual production of 18 million lbs U3O8 after ramp up

RESERVES:

Proven and probable reserves of 234.9 million lbs. U3O8 with an average grade of 17.84% U3O8

PLANS FOR 2015:

  • Cameco expects to have three jet boring machines operating underground
  • With these new jet boring machines in operation Cigar Lake is set to produce between 6 and 8 million packaged pounds of U3O8

2014

© 2017, Saskatchewan Mining Association