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Cigar Lake Mine: Wikis

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Cigar Lake Mine
Cigar Lake Mine is located in Saskatchewan
Cigar Lake Mine (Saskatchewan)
Location Athabasca Basin
Province  Saskatchewan
Country  Canada
Owner
Company Cameco(50%), AREVA(37%), Idemitsu (8%), and TEPCO (5%)
Year of acquisition 1981 (Discovery)
Production
Products Uranium
History
Opened 2011 (planned)


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%.

Construction began in 2005 with production planned for 2007, but the mine is currently undergoing a phased remediation program to restore the underground workings following a flood in October, 2006. Further water inflow occurred in 2008, and production is expected to be delayed until 2011 at the earliest.[1]

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).[2]

Reserves

As of December 31, 2007, the mine has proven and probable reserves of 497,000 tonnes at an average grade of 20.67% U3O8 (226.3 Million pounds).

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. 22 August 2008. http://www.neimagazine.com/story.asp?sectionCode=132&storyCode=2050703. Retrieved 2008-09-01.  
  2. ^ Andrew Mickey (2008-08-22). "Uranium Has Bottomed: Two Uranium Bulls to Jump on Now". UraniumSeek.com. http://www.uraniumseek.com/news/UraniumSeek/1219431716.php. Retrieved 2009-11-23.  

External links

Coordinates: 58°04′07″N 104°32′26″W / 58.06861°N 104.54056°W / 58.06861; -104.54056


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