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Cameco Finishes Second Shaft at Cigar Lake Uranium Mine

By Joel ScanlonJan 4 2012

Cameco Corporation has announced the completion of a second shaft to reach the main mine at its Cigar Lake uranium mine. The final section of rock was removed on January 3, 2012.

The top uranium producing company in Canada said that the additional shaft at the project in northern Saskatchewan would help ventilation in the underground operations besides being an additional entry and exit point.

Tim Gitzel, the Chief Executive Officer and President of Cameco Corp said that the second shaft was important for safe and reliable production at the project. He said that the breakthrough was a key milestone on their path to safe, clean and reliable production from this exceptional ore body. He added that they expected to resume full mine development and construction activities in 2012 and remain on track to start ore mining by the middle of next year.

The company owns 50% of the joint venture operations at Cigar Lake which has the world's largest undeveloped high-grade uranium deposit. The deposit has proven and probable reserves of more than 209.3 million pounds U3O8 at an average grade of 17.04% Other joint venture partners include AREVA Resources Canada, Idemitsu Resources Canada and Tepco Resources.

Written by

Joel Scanlon

Joel relocated to Australia in 1995 from the United Kingdom and spent five years working in the mining industry as an exploration geotechnician. His role involved utilizing GIS mapping and CAD software. Upon transitioning to the North Coast of NSW, Australia, Joel embarked on a career as a graphic designer at a well-known consultancy firm. Subsequently, he established a successful web services business catering to companies across the eastern seaboard of Australia. It was during this time that he conceived and launched News-Medical.Net. Joel has been an integral part of AZoNetwork since its inception in 2000. Joel possesses a keen interest in exploring the boundaries of technology, comprehending its potential impact on society, and actively engaging with AI-driven solutions and advancements.

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