(supplied photo/Cameco)

By paNOW Staff

uranium mining

Cameco extends Cigar Lake closure due to COVID-19 concerns

Apr 13, 2020 | 5:00 PM

Cameco will continue the temporary production suspension at its Cigar Lake uranium mine in northern Saskatchewan as the effects of the global COVID-19 pandemic persist. The company has also withdrawn its business outlook for the year.

Cameco initially announced a four-week halt on March 23, but following further assessment of the situation said its Cigar Lake workforce will need to remain at its current reduced level for a longer duration.

In reaching its decision, the company cited “the precautions and restrictions put in place by the federal and provincial governments, the increasing significant concern among leaders in the remote isolated communities of northern Saskatchewan, and the challenges of maintaining the recommended physical distancing at fly-in/fly-out sites with a full workforce.”

Cameco said it would keep the facility in safe care and maintenance for an indeterminate period and would monitor the situation on a continual basis to determine when a safe, sustainable restart is possible.

In announcing its withdrawal of their financial outlook for 2020 Cameco said “although we will provide a further update on our business when we report our first quarter results before markets open on May 1, 2020, we do not expect to resume providing outlook information until we have a sufficient basis to assess the future implication for us.”

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