Cameco, AREVA initiate production operations in Canada

Cameco and AREVA Inc. announced Wednesday that uranium production has begun at the Cigar Lake uranium mine and at the McClean Lake Mill in Saskatchewan, Canada.

“We are happy to celebrate these two major uranium mining assets in Saskatchewan, the Cigar Lake mine and the McClean Lake mill,” AREVA Senior Executive Vice President for Mining and Front End Business Group Olivier Wantz said. “Their successful operation demonstrates the determination and expertise of our employees to ensure the safe startup and continued production.”

The two companies welcomed local officials including Saskatchewan Economy Minister Bill Boyd during the opening of operations.

The mining facility is owned by Cameco, AREVA Resources Canada, Inc., Idemitsu Canada Resources Ltd. and TEPCO Resources Inc. AREVA holds the majority of the McClean mill facility with Denison Mines Inc. and OURD Canada Co.

“I thank all of our stakeholders and partners whose strong support helped us bring this rich and challenging deposit into production,” Cameco President and CEO Tim Gitzel said. “This achievement took 10 years, great perseverance and technical creativity, and I commend the many people who contributed.”

AREVA states that production at the mining and mill facilities is expected to reach 18 million pounds by 2018.