Cameco plans to restart manufacturing in April at its Cigar Lake uranium mine positioned in northern Saskatchewan.
Production at Cigar Lake was quickly suspended in December 2020 on account of rising dangers posed by the Coronavirus (COVID-19) pandemic. At that point, the supply of employees in essential areas was shrinking as a result of pandemic, with extra people screening out or residing in communities with pandemic-related journey restrictions.
“The security of our employees, their households and communities is at all times our high precedence,” mentioned Cameco president and CEO Tim Gitzel. “In latest months we’ve applied a number of enhanced security protocols for Cigar Lake, together with elevated distancing between passengers on flights, necessary medical-grade masks for all employees and elevated sanitization and bodily limitations in our consuming areas. We additionally labored with the Saskatchewan Health Authority and have established a licensed COVID-19 testing facility on the mine web site.
“These additional security measures, together with the provincial vaccine rollout program and elevated confidence round our skill to handle our essential workforce, have given us higher certainty that Cigar Lake will have the ability to function safely and sustainably.”
As the restart course of begins, Cameco will intently monitor the COVID-19 case counts and the continued success of the vaccine rollout, and can proceed to have common dialogue with public well being authorities and northern Saskatchewan leaders.
The timing of manufacturing restart and the manufacturing fee at Cigar Lake shall be depending on how rapidly we’re capable of remobilize the workforce. Cameco won’t be ready to offer updates to our outlook for 2021 till manufacturing has resumed and we perceive the speed at which we can sustainably function the mine.
“Having Cigar Lake working is a part of our technique and it was at all times our intention to renew manufacturing,” Gitzel mentioned. “There are important prices related to having the mine in non permanent care and upkeep, and we’ve a house in our contract portfolio for these low-cost kilos. We can even proceed to buy materials, as wanted, to fulfill our dedicated deliveries.
“Having mentioned that, employee well being and security is our high precedence, and we won’t hesitate to take additional motion if we really feel our skill to function safely is compromised as a result of pandemic.”
Cameco continues to ship into its contract portfolio and its robust stability sheet has offered the corporate with the monetary capability to efficiently handle the manufacturing disruption at Cigar Lake. As of December 31, 2020, Cameco had $943 million in money and short-term investments and a $1 billion undrawn credit score facility.
The Cigar Lake operation is owned by Cameco (50.025%), Orano Canada Inc. (37.1%), Idemitsu Canada Resources Ltd. (7.875%) and TEPCO Resources Inc. (5.zero%) and is operated by Cameco.
Cameco Corporation is the world’s largest publicly traded uranium firm, based mostly in Saskatoon, Saskatchewan, Canada.
(Source and picture: Cameco – Cigar Lake mine employees)
The put up CAMECO READY TO RESTART CIGAR LAKE URANIUM MINE IN NORTHERN SASKATCHEWAN appeared first on Energy Global News.