Cigar Lake Mine
| Cigar Lake Mine | |
|---|---|
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| Location | |
 Cigar Lake Mine
58°04′07″N 104°32′26″W / 58.06861°N 104.54056°WCoordinates: 58°04′07″N 104°32′26″W / 58.06861°N 104.54056°W |
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| 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 | 2013 (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%.
Full scale construction began in 2005 with production originally planned for 2007, but the mine experienced a catastrophic water inflow in October 2006, which flooded the mine. A second inflow occurred in 2008 during the first attempt at dewatering the mine after sealing the initial inflow. Remediation efforts continued, and re-entry was successfully accomplished in 2010. Production was first delayed until 2011,[1] and again until 2013.[2]
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).[3][4]
[edit] Reserves
As of December 31, 2011, the mine has proven and probable reserves of 537,100 tonnes at an average grade of 17.4% U3O8.[5] (209.3 Million pounds U3O8)
[edit] 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.
[edit] See also
- Uranium mining
- Uranium market
- Unconformity uranium deposits
- Deep geological repository
- Uranium bubble of 2007
[edit] References
- ^ "Cigar Lake floods again". Nuclear Engineering International. August 22, 2008. http://www.neimagazine.com/story.asp?sectionCode=132&storyCode=2050703. Retrieved 2008-09-01.
- ^ Bosker, Brent (March 2, 2012). "Cameco revises timeline for Cigar Lake". Rawlco Communications. http://www.newstalk650.com/story/cameco-revises-timeline-cigar-lake/46284. Retrieved 2012-03-02.
- ^ Locantro, Tony (July 19, 2005). "Uranium Bubble & Spec Market Outlook". Goldseek.com. http://news.goldseek.com/TonyLocantro/1121781600.php. Retrieved 2012-03-02.
- ^ Mickey, Andrew (August 22, 2008). "Uranium Has Bottomed: Two Uranium Bulls to Jump on Now". UraniumSeek.com. http://www.uraniumseek.com/news/UraniumSeek/1219431716.php. Retrieved 2009-11-23.
- ^ "Financial Reporting - Reserves". Cameco. December 31, 2011. http://www.cameco.com/investors/financial_reporting/reserves/. Retrieved 2012-03-02.
