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 549.8 million lbs using a variety of mining methods.
Operation
McArthur River Reserves
2024 Q3 Update
- Production
McArthur River Production
Cameco's Share (million lbs)Three months ended September 30, 2024 Nine months ended September 30, 2024 2024 2023 Change 2024 2023 Change 2024 Plan 2.8 1.6 75% 10.6 6.3 68% Up to 13.31 1. Our outlook for production from McArthur River/Key Lake has changed. We now expect to produce up to 19 million pounds (100% basis) in 2024 (previously 18 million pounds). See Uranium in our 2024 Q3 MD&A for more information.
In the third quarter of 2024, total packaged production from McArthur River and Key Lake was 4 million pounds (2.8 million pounds our share) compared to 2.3 million pounds (1.6 million pounds our share) in the third quarter of 2023. Our share of production was higher in the third quarter of 2024 compared to 2023 with the mill having achieved its planned production run rate. Our share of production in the first nine months of 2024 was 10.6 million pounds compared to 6.3 million pounds in 2023 for the same reason.
We now expect production of up to 19 million pounds (13.3 million pounds our share) in 2024. The increase in production is attributed to improved performance at the Key Lake mill, which is benefiting from the implementation of a number of automation, digitization and optimization projects that were undertaken during the period the operation was in care and maintenance, and an ongoing focus on operational efficiency.
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.
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