TORONTO (miningweekly.com) – Canadian uranium producer Cameco on Wednesday announced that Areva Resources Canada would apply to the Canadian Nuclear Safety Commission to increase the McClean Lake mill’s capacity from 13-million pounds of uranium a year to 16-million.
The move is required for Cameco to boost output at its new Cigar Lake mine to 16-million packaged pounds of uranium concentrate this year.
Ore from the Cigar Lake mine is milled and packaged at the McClean Lake operation, which is majority owned and operated by Areva. The mill’s current operating licence caps yearly output at 13-million pounds of uranium oxide.
Cameco cautioned, however, that it would only be able to achieve the new production target if Areva was able to secure the necessary regulatory approvals to increase mill output.
Cameco last year struck a supply agreement with India's Department of Atomic Energy to provide 7.1-million pounds of uranium concentrate under a long-term contract through 2020.
Cameco operates the Cigar Lake mine. Areva Resources Canada holds a 37.1% stake, Idemitsu Canada Resources holds a 7.875% stake and Tepco Resources holds the remaining 5% interest.
Edited by: Samantha Herbst
Creamer Media Deputy Editor
EMAIL THIS ARTICLE SAVE THIS ARTICLE
To subscribe email subscriptions@creamermedia.co.za or click here
To advertise email advertising@creamermedia.co.za or click here
