Cigar Lake Mine

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Cigar Lake Mine
Location
Cigar Lake Mine
Location in Saskatchewan
Location Athabasca Basin
Province Saskatchewan
Country Canada
Coordinates 58°04′07″N 104°32′26″W / 58.06861°N 104.54056°W / 58.06861; -104.54056Coordinates: 58°04′07″N 104°32′26″W / 58.06861°N 104.54056°W / 58.06861; -104.54056
Production
Products Uranium
History
Opened 2014 (planned)
Owner
Company Cameco(50%), AREVA(37%), Idemitsu (8%), and TEPCO (5%)
Year of acquisition 1981 (Discovery)

The Cigar Lake Mine is the largest undeveloped high grade uranium deposit in the world, located in the uranium rich Athabasca Basin of northern Saskatchewan, Canada.

The deposit, discovered in 1981, is second in size of high-grade deposits only to the McArthur River mine. Other deposits, such as Olympic Dam in Australia, contain more uranium, but not at the significant grades of the Saskatchewan deposits. The average grade at Cigar Lake is in excess of 20% whereas the world average is less than 1%.

Full scale construction began in 2005 with production originally planned for 2007, but the mine experienced a catastrophic water inflow in October 2006, which flooded the mine. A second inflow occurred in 2008 during the first attempt at dewatering the mine after sealing the initial inflow. Remediation efforts continued, and re-entry was successfully accomplished in 2010. Production has been delayed several times with the startup dates being announced for 2011,[1] 2013,[2] and 2014.[3]

It has been suggested that the 2006 flood was a direct cause of the uranium bubble of 2007, which caused the natural uranium spot price to reach a record high of 137$/lb (300$/kgU).[4][5]

Reserves

As of December 31, 2011, the mine has proven and probable reserves of 537,100 tonnes at an average grade of 17.4% U3O8.[6] (209.3 Million pounds U3O8)

Ownership

The mine is owned by Cameco Corporation (50%), AREVA Resources Canada Inc (37%), Idemitsu Canada Resources Ltd. (8%), and TEPCO Resources Inc. (5%). Cameco is the project operator.

See also

References

  1. ↑ "Cigar Lake floods again". Nuclear Engineering International. August 22, 2008. Retrieved 2008-09-01. 
  2. ↑ Bosker, Brent (March 2, 2012). "Cameco revises timeline for Cigar Lake". Rawlco Communications. Retrieved 2012-03-02. 
  3. ↑ "Cameco to miss 2013 target for Cigar Lake uranium project due to startup delays". The StarPhoenix (Postmedia Network). The Canadian Press. 2013-09-09. Retrieved 2013-09-09. 
  4. ↑ Locantro, Tony (July 19, 2005). "Uranium Bubble & Spec Market Outlook". Goldseek.com. Retrieved 2012-03-02. 
  5. ↑ Mickey, Andrew (August 22, 2008). "Uranium Has Bottomed: Two Uranium Bulls to Jump on Now". UraniumSeek.com. Retrieved 2009-11-23. 
  6. ↑ "Financial Reporting - Reserves". Cameco. December 31, 2011. Retrieved 2012-03-02. 

External links

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