Orano: Temporarily Suspending Production at Cigar Lake

PARIS--(BUSINESS WIRE)--Regulatory News:

Cameco, as operator of the Cigar Lake uranium mine in northern Saskatchewan in Canada, announced today that in the coming weeks it will be temporarily suspending production on this site. Cameco underlines that the provincial recent evolution of the Coronavirus (COVID-19) pandemic requires such decision in order to protect the safety of the local communities and of its employees, and secure its facilities. In conjunction with that decision, Orano Canada Inc. as the operator of the McClean Lake JV is announcing a similar temporary suspension of the production at the mill.

The 2020 financial outlook announced by Orano on July 31^st remains unchanged.

The Cigar Lake operation is owned by Cameco (50.025%), Orano Canada Inc. (37.1%), Idemitsu Canada Resources Ltds. (7.875%) and TEPCO Resources Inc. (5.0%) and is operated by Cameco.

The McClean Lake JV is owned by Orano Canada Inc. (77.5%), Denison Mines (22.5%) and is operated by Orano Canada Inc..

About Orano
Orano transforms nuclear materials so that they can be used to support the development of society, first and foremost in the field of energy.
The group offers products and services with high added value throughout the entire nuclear fuel cycle, from raw materials to waste treatment. Its activities, from mining to dismantling, as well as in conversion, enrichment, recycling, logistics and engineering, contribute to the production of low-carbon electricity.
Orano and its 16,000 employees bring to bear their expertise and their mastery of cutting-edge technology, as well as their permanent search for innovation and unwavering dedication to safety, to serve their customers in France and abroad.
Orano, giving nuclear energy its full value.