Cameco Corp. – Stock Symbols – NYSE: CCJ, TSX: CCO

Cameco Corp. (Stock Symbols – NYSE: CCJ, TSX: CCO) is the second-largest global producer providing the fuel for carbon-free, reliable baseload power for the world. Its business spans the nuclear fuel cycle from exploration to nuclear fuel manufacturing.

Why Invest in Cameco?

Cameco’s tier-one operations have the licensed capacity to produce more than 53 million pounds (on a 100% basis) of uranium concentrates annually. The company has 455 million pounds of proven and probable mineral reserves across all projects. They are known as a leading supplier for refining, conversion, and fuel manufacturing which are needed to energize a clean air world.

Cameco Corp’s operations include uranium and fuel services. The uranium segment involves exploring, mining, milling, purchasing, and selling concentrate.

Cameco’s Canadian joint operation interests include McArthur River, Key Lake, Rabbit Lake, and Cigar Lake.

Cameco is a Canadian producer and an American producer with ISR processing at Crow Butte and Smith Ranch-Highland.

Fuel Services Segment

The fuel services segment involves refining, conversion and fabrication of concentrate and purchasing and selling conversion services.

This segment also offers a variety of products and services to meet consumer demand, including uranium trioxide (UO3), uranium hexafluoride (UF6), and uranium dioxide (UO2).

As you can see, the company provides the nuclear fuel needed to energize a clean air world.

Mines

MacArthur River

Cameco’s largest mine is the world’s largest high-grade MacArthur River mine, approximately 385 miles north of Saskatoon.

McArthur River Uranium Mine
Photo of the Cameco MacArthur River Mine from Wikipedia.org

Discovery

Discovered in the Athabasca Basin’s eastern side in 1988, MacArthur River became the most significant producing long-term mine in 2012.

Production

The mine had an annual production that met 13% of global needs for nuclear power plants. This mine has about 274 million pounds of proven and probable uranium at an average grade of 6.9%.

Current Status

During 2018, this mine was placed on care and maintenance due to low prices.

License

The mine is licensed through 2023.

Ownership

Cameco’s ownership of this mine is approximately 70%.

Cigar Lake

The company has many more mines that it owns and manages. One of these mines is the extremely high-grade Cigar Lake mine with approximately 86 million proven and probably pounds. The mine has an average grade of 14.6%.

The site has produced 93 million pounds (100% basis) since commissioning in 2014, and commercial operation began in May 2015. The mine has over 82 million pounds of proven and probable reserves (Cameco’s ownership).

Cameco developed an innovative jet-boring technique specifically for this challenging deposit.

Cigar Lake’s ore is processed at the McClean lake mill, only 70 kilometers northeast of the mine. Orano operates the mill.

License

Currently, the mine is licensed through 2031.

Ownership

The organization owns about 50% of the Cigar Lake mine.

Inkai

Inkai is a Kazakh mine that the firm owns a 40% stake of. The majority owner is Kazatomprom, of which the government also has control over 60%.

Inkai is an ISR (In Situ Recovery) production mine.

Since its initial launch in 2008, Inkai’s ISO 14001 and BSI OHSAS 18001 certified facility has followed western standards for worker safety and environmental protection.

The mine has over 100 million pounds of estimated reserves that represent Cameco’s share of ownership.

Rabbit Lake

In 1975, Rabbit Lake opened up as the longest operating uranium mine in North America.

The operation over 41 years produced more than 203 million pounds of uranium.

Current Status

During 2016, this mine was placed on care and maintenance due to low prices.

Rabbit Lake
Photo from Rabbit Lake. Source: Cameco

Crow Butte

Crow Butte was the first uranium mine in Nebraska – discovered in 1980 and began production in 1991.

Crow Butte has mined more than 11.8 million pounds of uranium using the in situ recovery method.

Current Status

Cameco halted production and postponed all wellfield development for its U.S. locations in the second quarter of 2016.

Ownership

The mine is 100% owned.

Crow Butte
Photo from Crow Butte. Source: Cameco

Smith Ranch-Highland

Smith Ranch-Highland opened in 1975 and has produced 23 million lbs of uranium through the in situ recovery method.

Current Status

Cameco halted production and postponed all wellfield development for its U.S. locations in the second quarter of 2016.

Ownership

The mine is 100% owned.

Smith Ranch-Highland
Photo from Smith Ranch-Highland. Source: Cameco

About Cameco

Cameco has been doing many things to create a strengthened balance sheet due to lower prices and COVID, including placing mines on care and maintenance.

This global firm operates in 6 countries and employs about 2,200. They formed after a merger of Eldorado Nuclear Limited and Saskatchewan Mining Development Corporation.

Its name is an abbreviated version of its original name of Canadian Mine and Energy Corporation.

Cameco was formed on June 19th, 1987, and headquartered in Saskatoon, Saskatchewan, Canada.

Contact:

Cameco Corporation

2121 11th Street West

Saskatoon, Saskatchewan S7M 1J3 (Canada)

Phone: +1 306-956-6294

Email: [email protected]

www.cameco.com

Cameco Uranium Stock Performance

Stock Symbols – CCJ, CCO

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