Uranium Week: Cameco Plans Mine Restart

Uranium Week: Cameco Plans Mine Restart

As the uranium price rise of recent weeks takes a breather, Cameco plans to restart production at the Cigar Lake mine

-Cameco’s Cigar Lake mine to restart
-Recent research on ASX-listed uranium companies
-The weekly Spot uranium price falls -2.7%

In a move that surprised some commentators given the pandemic caseload in northern Canada, Cameco has announced it plans to restart production at the Cigar Lake uranium mine in April. In some quarters it’s felt recent tightening in the spot market and the potential for further covid supply disruption may have played a part in the decision.The Cigar Lake mine is the world’s largest operating uranium mine, producing around 18mlbs per year representing circa 13% of global supply. Production was previously suspended in December 2020, for the second time that year, due to increased risks related to covid. Earlier, Cameco had constrained production simply due to too-low uranium prices, […]

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