Mining has restarted at Cameco Corp.'s 100%-owned Rabbit Lake uranium operation in northern Saskatchewan. Mine production began in mid-July at the operation's Eagle Point underground mine, and the mill restarted in August. Total production in 2002 is expected to be about 2.5 million pounds, ramping up to 6 million pounds annually.
Eagle Point is the latest in a series of ore deposits that have made Rabbit Lake the longest-running uranium operation in Saskatchewan. Existing reserves at Eagle Point will feed the mill for at least three years. In the latter half of the decade, the Rabbit Lake mill will be dedicated to process uranium from the Cigar Lake mine, which could be ready for production in 2005 or 2006, subject to market conditions and regulatory approvals. The mine will employ 300 people. For more information visit www.cameco.com