TEPCO Resources retains the remaining 5% per cent interest in the Cigar Lake, the world’s largest high-grade uranium mine.
“As the operator of Cigar Lake since 2002, it’s an asset we know incredibly well, Cameco president and CEO Tim Gitzel said in the statement. “It’s quite simply one of the best and most prolific uranium producing assets on the planet.”
Production guidance for the mine this year is pegged at 15 million pounds of uranium concentrate (U3O8) on a 100% basis, which would make it the world’s largest uranium producing operation this year.
“Canada is an essential asset in our strategy to diversify our production which is even more important today to guarantee our customers a security of supply in the long term.” Orano Mining president Nicolas Maes, said in a separate statement.
Cigar Lake’s reserve and resource base includes proven and probable reserves estimated at 152.4 million pounds of U3O8,…
