Cameco’s McArthur River mine, Key Lake mill back up and running

As promised in February, Cameco has resumed operations at the McArthur River uranium mine and Key Lake mill facilities.

The mine closed in July 2018 because of low uranium prices and a weak global market.

Cameco recently announced the first pounds of uranium ore were mined, then milled and packaged for distribution.

“The announcement by Cameco to resume production at its McArthur River mine and Key Lake mill further positions Saskatchewan as a critical and sustainable supplier of fuel and resources the world needs,” Premier Scott Moe said in a media release. “Congratulations to Cameco on this achievement and for providing over 700 jobs to our province’s northerners.”

According to the government, the mine and mill employ around 730 people, more than half of whom are of Indigenous heritage. Cameco plans to hire more people during the year and is aiming for a year-end workforce that has a higher representation of women and Indigenous people than before the facilities closed.

“We are delighted to have McArthur River and Key Lake back in production. Having these two operations up and running allows us to provide hundreds of jobs to northern Saskatchewan, brings back business to our valued northern suppliers and results in increased investment and economic activity in surrounding communities,” Cameco president and CEO Tim Gitzel said in the release.

“It also means more Saskatchewan uranium powering clean nuclear energy here in Canada and around the world. This is a win all around – for Cameco and our workers, for our northern partners, for our customers and for the entire province.”

Saskatchewan uranium sales to this point are $717 million, up more than 120 per cent from 2021. Saskatchewan’s Provincial Growth Plan has set a goal of achieving $2 billion in annual uranium sales by 2030.