URANIUM: Cigar Lake reaches 10 million lb milestone

SASKATCHEWAN – Cameco Corp. of Saskatoon is spreading the news that the Cigar Lake uranium mine has produced more than 10 million lb of uranium concentrate since production began earlier this year. As 50% owner, Cameco’s share is 5 million lb. The balance of the project belongs to Areva Resources Canada (37%), Idemitsu Canada Resources (8%) and Tepco Resources (5%). Cameco is the operator. Proven and probable reserves at Cigar Lake were 597,200 tonnes grading 17.84% U₃O₈ and containing 234.9 million lb of uranium dioxide at the end of 2014. Click here for more in-depth mineral resources information. Ore from the Cigar Lake mine is trucked 70 km and processed at the McClean Lake mill operated by Areva (70%), Denison Mines (22.5%) and Ourd Canada (7.5%).