Energy

Cameco to Open Cigar Lake as Uranium Price Rebounds

Energy Investing

The Globe and Mail reported that Cameco Corp. will start mining in its Cigar Lake Uranium project by mid-2013. Cigar Lake is the second biggest high grade uranium deposit in the world and was discovered over 30 years ago.

The Globe and Mail reported that Cameco Corp. will start mining in its Cigar Lake Uranium project by mid-2013. Cigar Lake is the second biggest high grade uranium deposit in the world and was discovered over 30 years ago.

As quoted in the market news:

We’re on track with Cigar Lake. We said we’d be starting the mining in mid-2013 and we will and we’ll have first production from the mill in 2013,” said Tim Gitzel, chief executive officer of the Saskatchewan-based owner of uranium projects in Canada, the United States, Australia and Kazakhstan.

Click here to read the full The Globe and Mail report.

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