URANIUM: McClean Lake throughput jumps to 24M lb for Cigar Lake

SASKATCHEWAN – The Canadian Nuclear Safety Commission has approved an application to increase the throughput of the McClean Lake uranium plant to 24 million lb of uranium dioxide from the current limit of 13 million lb. The increase was necessary because the mill handles ore from the Cigar Lake uranium mine that will reach full annual production of 18 million lb in 2017. The mine, located in the Athabasca Basin, is the world’s highest grade uranium ore with an average of 16.7% U₃O₈. Cigar Lake is owned by Cameco Corp. (50%), AREVA Resources Canada (37%), Idemitsu Uranium Exploration Canada (8%), and Tepco Resources (5%). Learn more about the Cigar Lake mine at www.Cameco.com. Areva is the 70% owner and operator of the McClean Lake mill. Other interests are held by Denison Mines Corp. (22.5%) and Ourd Canada Co. (7.5%).