Record Year For Cameco

Record Year For Cameco

Wednesday, February 07, 2007 at 13:22

 

 

It’s been a good year for a Saskatchewan uranium mining giant.

 

Cameco is reporting record profits for 2006.

 

The company earned revenues of $1.8 billion, with net earnings of $376 million.

 

Cameco spokesman Lyle Krahn admits the news is good, but points out the company had some misfortune last year with the flooding of the Cigar Lake operation.

 

He says the accident has cost the company $20 million in repairs so far. But he won’t say how much money the company took in after the flooding, when the price of uranium shot up.

 

Krahn also says there are no plans at this point to increase the number of charitable events Cameco sponsors, but it will review the situation like it does every year.

 

Meanwhile, remediation work continues at Cigar Lake.

 

Krahn says 8 of 14 drill holes are complete, and 300 cubic metres of concrete has been poured.