Cigar Lake Mine Out Of Commission Until 2011

Wednesday, October 31, 2007 at 13:23



One of the world’s biggest uranium mining companies says it will be 2011 at the earliest before a flooded mine in northern Saskatchewan can go into production.


Cameco says it will have a better idea of the startup date after its Cigar Lake operation is drained and the condition of the underground development is assessed.


The mine was about 60 per cent finished when it flooded last October.


The update comes as Cameco reports that its third-quarter profit jumped 25 per cent to $91 million.


(courtesy of The Canadian Press)