Cameco sees 2015 uranium output of 6-8 mln pounds at Canada mine

Tue Jan 13, 2015 4:58pm EST
 
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WINNIPEG, Manitoba Jan 13 (Reuters) - Canadian uranium producer Cameco Corp said on Tuesday it expected its newest mine at Cigar Lake, Saskatchewan, to produce 6 million to 8 million pounds of uranium concentrate in 2015.

The mine, which began production in March 2014, produced 340,000 pounds last year, in line with expectations, Cameco said in a statement after markets closed.

The Saskatoon, Saskatchewan-based company expects the mine to reach its full annual production rate of 18 million pounds by 2018.

Cameco operates the Cigar Lake mine and owns 50 percent, with smaller stakes held by Areva SA, Japan's Tokyo Electric Power Co Inc and Idemitsu Kosan Co Ltd . Areva owns 70 percent of the McClean Lake mill, which processes ore from Cigar Lake, with smaller stakes owned by Denison Mines Corp and Ourd Canada. (Reporting by Rod Nickel in Winnipeg, Manitoba. Editing by Andre Grenon)