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Cameco declares COVID-19 outbreak at McArthur River, suspends Cigar Lake mine

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McArthur River uranium mine, Saskatchewan. Image credit: Cameco.

(Kitco News) - Cameco (TSX: CCO) reported three positive COVID-19 cases over the weekend and declared an outbreak at McArthur River.

According to the company’s statements issued on December 11th and 12th, an individual at the Cigar Lake uranium mine and two individuals at the McArthur River uranium mine, both located in Saskatchewan, have tested positive for COVID-19.

The results are being sent for confirmation to the provincial lab and will be classified as presumptive positives until the company has confirmation.

This is the third positive test at McArthur River and based on the connection of cases, it is now meet the definition of an outbreak according to the Saskatchewan Health Authority.

According to the company’s press - release from today, Cameco will be temporarily suspending production at its Cigar Lake uranium mine over the coming weeks due to the increasing risks posed by the COVID-19 pandemic.

The uranium spot price is rising on news that Cameco is suspending operations at the world's largest uranium mine.

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