| OWNERSHIP: |
|
Cameco Corporation (50%)
AREVA Resources (37%)
Idemitsu Uranium Exploration Canada Limited (8%)
TEPCO Resources Inc. (5%)
|
| OPERATOR: |
|
Cameco Corporation (Cameco assumed operation in January 2002)
|
| DISCOVERED: |
|
1981 by AREVA Resources |
| OPERATION: |
|
Cigar Lake is the world's second largest known high-grade orebody. Construction of the
mine (Saskatchewan's largest construction project) is ongoing and production is projected to begin in
2011 at the earliest. When in production, Cigar Lake ore slurry will be trucked about 75 kilometres to
McClean Lake for processing. As production ramps up, a portion of the uranium solution will be trucked
from the McClean Lake mill to Cameco's Rabbit Lake mill for final processing and packaging (subject to
regulatory approvals). Mill expansions are planned for both sites. |
| CAPACITY: |
|
Planned annual production of 18 million lbs. U3O8 (6,924 tonnes uranium) |
| PRODUCTION: |
|
Expected in 2010, subject to regulatory approval |
| RESERVES: |
|
Proven and probable reserves of 226.3 million lbs. U3O8 (87,000 tonnes
uranium) with an average grade of 20.7% U3O8
|
SIGNIFICANT
EVENT: |
|
In October 2006, Cigar Lake experienced an inflow of water in the underground mine.
This inflow has caused the expected mining date to be pushed back to 2011 at the earliest.
|
| PLANS FOR 2008: |
|
-
Pump water out of underground workings
-
Begin rehabilitation of underground workings and Shaft 2
-
Start drilling for surface freezing test program
-
Complete surface construction for ore load-out interior concrete, mine exhaust and intake
ventilation system
-
Continue surface construction programs with the following activities:
-
Sewage lagoons
-
Storage for solid waste materials from underground
-
Administration and maintenance facility foundations
|
