The Canadian Nuclear Horn: That’s A Lot Of Uranium Eh? (Daniel 7:7)

Cameco sees 2015 uranium output of 6-8 mln pounds at Canada mine

 

14th January 2015       By: Reuters

WINNIPEG – Canadian uranium producer Cameco said on Tuesday it expected its newest mine at Cigar Lake, Saskatchewan, to produce six-million to eight-million pounds of uranium concentrate in 2015.

The mine, which began production in March 2014, produced 340 000 lbs last year, in line with expectations, Cameco said in a statement after markets closed.

The Saskatoon, Saskatchewan-based company expects the mine to reach its full annual production rate of 18-million pounds by 2018.

Cameco operates the Cigar Lake mine and owns 50%, with smaller stakes held by Areva, Japan’s Tokyo Electric Power Co and Idemitsu Kosan Co. Areva owns 70% of the McClean Lake mill, which processes ore from Cigar Lake, with smaller stakes owned by Denison Mines and Ourd Canada.