Production resumes at the world's largest uranium mine
(Kitco News) - Cameco (TSX: CCO; NYSE: CCJ), one of the world’s largest uranium producers, reported yesterday that the company is returning its regular workforce to the Cigar Lake uranium mine in northern Saskatchewan and planning to restart production later this week.
According to a previous announcement, about 230 workers were evacuated from the site on July 1 as a precaution due to the proximity of a wildfire burning in the vicinity of the operation. The company said that, in consultation with provincial wildfire management officials from the Saskatchewan Public Safety Agency, it believes that the risk to Cigar Lake posed by the fire has now subsided.
With improved weather and smoke conditions, minimal likelihood of further road closures in the area, and all infrastructure at Cigar Lake remaining intact, Cameco believes the full complement of personnel can be safely remobilized and regular operations resumed.
Cameco said it is now in the process of transporting employees and contractors back to site. Final inspections and preparation of equipment will occur over the days ahead to ready the operation for a return to production, the company noted.
Cameco is one of the largest global producers of uranium that has a controlling ownership of the world’s largest high-grade reserves and low-cost operations. Cigar Lake is the world’s largest uranium mine by production.