McArthur River/Key Lake
- McArthur River/Key Lake, located in northern Saskatchewan, Canada, are the world's largest high-grade uranium mine and mill.
- In service since 1999 and 1983 respectively, Cameco operates the ISO 14001 certified locations, which have collectively produced 535 million lbs using a variety of mining methods.
2024 Q1 Update
Production
McArthur River Production
Cameco's Share (million lbs)
| Three months ended March 31 | |||
| 2024 | 2023 | Change | 2024 Plan |
| 3.5 | 2.4 | 46% | 12.6 |
In the first quarter of 2024, total packaged production from McArthur River and Key Lake was 5 million pounds (3.5 million pounds our share) compared to 3.4 million pounds (2.4 million pounds our share) in the first quarter 2023. Our share of production was higher in the first three months of 2024 compared to 2023 with the mill having achieved its planned production run rate following the transition from care and maintenance (2018 through 2021) back to normal operations.
We continue to expect production of 18 million pounds (12.6 million pounds our share) in 2024.
The collective agreement with the United Steelworkers Local 8914 expired in December 2022, and we are in negotiations to reach a new agreement. The federal conciliation process began in October 2023 and concluded January 2024. As in the past, work continues under the terms of the expired collective agreement while negotiations proceed. There is a risk to the production plan if we are unable to reach an agreement and there is a labour disruption.
Environment & Safety
Worker safety, environmental monitoring and proper decommissioning, after mining is completed, are of the utmost importance to Cameco.
Reserves & Resources
Our mineral reserves and resources are the foundation of our company and fundamental to our success.
Caution about forward-looking information
This page may contain forward-looking information that is based upon the assumptions and subject to the material risks discussed on page 2 of Cameco's most recent Quarterly MD&A.