Cameco Extends Production Suspension at Cigar Lake Mine and Withdraws Outlook [Canadian Business Journal (Canada)]
Cameco Corporation (CCJ)
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Source: Canadian Business Journal
SASKATOON, Saskatchewan, April 13, 2020 (GLOBE NEWSWIRE) —CamecoCameco 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 sites with a full workforce were critical factors Cameco considered in reaching this decision.Cameco will therefore keep the facility in safe care and maintenance for an indeterminate period. We will monitor the si
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