| Cameco Restricts Underground Mining Activities at the Rabbit Lake Operation | |
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Saskatoon, Saskatchewan, Canada, December 17, 2015
Cameco (TSX: CCO; NYSE: CCJ) announced today that underground mining activities have been restricted at the Rabbit Lake operation in northern Saskatchewan.
After reopening an inactive area of the Eagle Point mine, a fall of rock was discovered in a tunnel. No groundwater inflow to the mine has been observed in the affected area.
As a precautionary measure, 40 non-essential personnel were removed from the mine and activities were restricted to ensure the safety of mine workers while the condition of the affected area is assessed. There were no injuries and no effect on the environment.
Production mining at Eagle Point has been temporarily suspended while the assessment is completed. The Rabbit Lake mill continues to operate as usual.
The Rabbit Lake operation is expected to meet its 2015 production target of 3.9 million pounds of uranium concentrate (UO) by processing ore that was mined previously and transported to the surface.
The Canadian Nuclear Safety Commission and Saskatchewan Mines Inspector have been notified. Further information will be provided once the assessment is complete.
Currently about 600 Cameco employees and contractors work at the Rabbit Lake operation.
Profile
Cameco is one of the world's largest uranium producers, a significant supplier of conversion services and one of two Candu fuel manufacturers in Canada. Our competitive position is based on our controlling ownership of the world's largest high-grade reserves and low-cost operations. Our uranium products are used to generate clean electricity in nuclear power plants around the world. We also explore for uranium in the Americas, Australia and Asia. Our shares trade on the Toronto and New York stock exchanges. Our head office is in Saskatoon, Saskatchewan.
Investor inquiries:
Rachelle Girard
(306) 956-6403
Media inquiries:
Rob Gereghty
306) 956-6190
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Cameco Corporation
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PRODUCER |
CODE : CCO.TO |
ISIN : CA13321L1085 |
CUSIP : 13321L108 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
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 CA$ 26.2 billions as of today (US$ 19.1 billions, € 17.9 billions). Its stock quote reached its lowest recent point on December 26, 2003 at CA$ 10.02, and its highest recent level on April 19, 2024 at CA$ 66.18. Cameco has 395 792 522 shares outstanding. |