UPDATE 1-Uranium producer Cameco expects up to 5 pct fall in revenue
(Adds details from the statement, shares)
Oct 29 (Reuters) - Canadian uranium producer Cameco Corp said it expected full-year revenue to fall up to 5 percent as it trims production to account for labor issues at its mines.
Shares of the company, which reported lower-than-expected quarterly revenue, fell 4 percent to C$18.76 on the Toronto Stock Exchange on Wednesday.
Cameco trimmed its 2014 uranium production forecast to between 22.6 million-22.8 million pounds, from 22.8 million- 23.3 million pounds.
The company said it cut the production forecast to reflect the impact of labor issues at its McArthur River, Saskatchewan mine and Key Lake mill and lower-than-expected production from Cigar Lake mine.
The McArthur River mine, the company's biggest, was offline for two weeks during end August to early September due to a lockout.
The Cigar Lake mine began production in March but was shutdown in July due to a problem with a process that involves freezing the ore. Production resumed by September.
The Saskatoon, Saskatchewan-based company reported revenue of C$587 million ($527.3 million), lower than the average analyst estimate of C$628.9 million, according to Thomson Reuters I/B/E/S.
The company's average realized uranium price fell to $45.87 per pound from $50.73 in the year-ago quarter. Continued...