| Cameco aims for bigger uranium output from new mine | |
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WINNIPEG, Manitoba, Jan 6 (Reuters) - Cameco Corp , the world's second-largest uranium producer, said on Wednesday it expects its newest mine at Cigar Lake, Saskatchewan to produce 16 million packaged pounds of uranium concentrate in 2016, subject to regulatory approval. Reaching the higher output target depends on regulators approving an increase in the annual production limit at the McClean Lake mill, which processes Cigar Lake ore and is owned by France's Areva SA, Cameco said in a statement. Cameco owns just over half of the Cigar Lake mine, with Areva holding a more than a one-third stake. Cameco said it would report last year's output at Cigar Lake next month. It had aimed for production of 6 million to 8 million pounds from the mine in 2015, but said in October that it exceeded the target. Oversupply has weighed down global uranium prices, after the 2011 Fukushima meltdown led to Japan shutting its reactors. (Reporting by Rod Nickel in Winnipeg, Manitoba; Editing by Richard Chang)
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VanEck Vectors Global Alternative Energy ETF
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PRODUCER |
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CODE : CCO.TO |
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ISIN : CA13321L1085 |
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CUSIP : 13321L108 |
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Cameco is a uranium producing company based in Canada. Cameco produces uranium, cobalt, copper, nickel and zinc in Canada, in Finland and in Kazakhstan, develops uranium in Australia and in Canada, and holds various exploration projects in Canada. Its main assets in production are RABBIT LAKE, KEY LAKE, SMITH RANCH, CROW BUTTE, MCARTHUR RIVER (SASKATCHEWAN), MC ARTHUR RIVER and MCARTHUR RIVER MINE in Canada, INKAI and HIGHLAND in Kazakhstan and TALVIVAARA in Finland, its main assets in development are CIGAR LAKE and MILLENNIUM in Canada and KINTYRE in Australia and its main exploration properties are EAGLE POINT, DAWN LAKE, SMART LAKE, BOOMERANG and DAWSON in Canada. Cameco is listed in Canada, in Germany and in United States of America. Its market capitalisation is 3.5 billions as of today (US$ 2.5 billions, € 2.4 billions). Its stock quote reached its lowest recent point on December 26, 2003 at 10.02, and its highest recent level on November 14, 2024 at 74.72. Cameco has 47 442 200 shares outstanding. |