Make Kitco Your Homepage

Cameco evacuates Cigar Lake due to wildfire, production suspended

Kitco News

Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here!

(Kitco News) - Cameco (TSX: CCO; NYSE: CCJ), one of the largest uranium mining companies worldwide, announced today that it has made the decision to evacuate all non-essential personnel from the Cigar Lake uranium mine in northern Saskatchewan.

The company said that the action is being taken as a precaution due to the proximity of a northern wildfire that is currently burning in the vicinity of the operation. The situation is complicated by extremely warm, dry weather, resulting from the heat dome that has settled over western Canada in recent days, along with variable wind and smoke conditions, the company added.

According to a press-release, production at Cigar Lake has been temporarily suspended. Approximately 230 workers are being transported off site. Roughly 80 essential personnel will remain on site to maintain the facility in a safe state. Should the wildfire threat grow considerably at site, a plan is in place to ensure their safety, Cameco noted.

A number of precautions have been implemented at Cigar Lake to limit the risk posed by the wildfire. Cameco said it is working closely with provincial wildfire management personnel from the Saskatchewan Public Safety Agency, who are on-site assessing the situation on an ongoing basis. The decision to evacuate the operation was made in conjunction with these officials.

Cameco is one of the largest global providers of the uranium fuel needed to energize a clean-air world. The company owns the world’s largest high-grade uranium reserves and low-cost operations.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.