Cameco increases Cigar Lake ownership to 57%
Cameco has successfully acquired Tepco Resources' 5% participating interest in the Cigar Lake joint venture, increasing Cameco's ownership stake in the mine to 57.41%.
Cameco’s joint venture partner, Orano Canada, holds 42.58% in the project as of July 3.
Cigar Lake, in Saskatchewan, remains suspended owing to challenges at the Orano McClean Lake mill where the mine’s ore is processed. Orano encountered operational issues with the sulphuric acid plant at McClean Lake, which caused it to shut down for repairs.
Source: Mining Weekly