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Cameco's Cigar Lake Mine Resumes Production

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Cameco's (CCO.TO, CCJ) Cigar Lake mine in northern Saskatchewan resumed production following a temporary suspension due to "challenges" at Orano's McClean Lake mill, where Cigar Lake ore is processed, it said in a statement late Tuesday.

The company also said that the McClean Lake mill has also resumed operations. Cigar Lake has begun shipping stockpiled ore to the mill and has restarted production at the mine. Orano Group, McClean's operator, said the uranium mill reopened on July 11 "after an issue with an expansion joint in the sulfuric acid production unit," according to a separate statement.

Cameco said its 2026 production outlook range for Cigar Lake has not been impacted by the temporary suspension of production and remains between 17.5 million and 18.0 million pounds of uranium concentrate.

Shares of the company were last seen down 1.3% at C$127.24 on the Toronto Stock Exchange.

Price: $127.15, Change: $-1.72, Percent Change: -1.33%

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