Cameco revises 2023 Canadian production forecast

Share

In what it describes as an "unplanned event", the company has revised downwards this year’s expected production for its Canadian uranium mining operations, citing equipment reliability issues at Cigar Lake and continued uncertainty over planned production at Key Lake as it ramps up after a lengthy period in care and maintenance. Underground tunnels at Cigar Lake (Image: Cameco) Cigar Lake is now expected to produce up to 16.3 million pounds U3O8 (6270 tU) this year, down from 18 million pounds U3O8. Production from the McArthur River/Key Lake operations for 2023 is expected to be 14 million pounds U3O8, down from the previous forecast of 15 million pounds U3O8. These figures are on a 100% basis.

"As previously reported, mining activities at the Cigar Lake operation were initiated from a new zone in the orebody (west pod) in the second quarter of this year, which impacted productivity," the company said […]

Click here to view original web page at www.world-nuclear-news.org

About the author: StockMan

Please remember:

The information provided here is for general knowledge and educational purposes only.
It is not intended to be a substitute for professional financial advice.
Every individual's financial situation is unique, and what works for one person may not work for another.
Before making any investment or financial decisions, you should always consult with a qualified financial advisor who understands your specific circumstances and goals.

Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, should never be acted upon. Please be aware that any information posted on this site should not be considered to be financial advice and i am not a financial advisor.