Cameco Extends Production Suspension at Cigar Lake Mine and Withdraws Outlook
Cameco Corporation (CCJ)
Last cameco corporation earnings: 5/1 07:00 am
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Source: GlobeNewswire
SASKATOON, Saskatchewan, April 13, 2020 (GLOBE NEWSWIRE) -- Cameco (TSX: CCO; NYSE: CCJ) announced today that it is extending the temporary production suspension at the Cigar Lake uranium mine in northern Saskatchewan as the effects of the global COVID-19 pandemic persist. Cameco announced on March 23 that the Cigar Lake operation was being placed in safe care and maintenance mode for four weeks, during which we would assess the status of the situation and determine whether to restart the mine or extend the production suspension. With the impact of COVID-19 continuing to escalate, we have determined that the Cigar Lake workforce will need to remain at its current reduced level for a longer duration. The precautions and restrictions put in place by the federal and provincial governments, the increasing significant concern among leaders in the remote isolated communities of northern Saskatchewan, and the challenges of maintaining the recommended physical distancing at fly-in/fly-out
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