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Cameco Increases Stake in Cigar Lake Uranium Mine

Created at 1 Jun · 10:52 AM2 sources↑ Market-relevant2 events
IN SHORT

Cameco and Orano are acquiring TEPCO's 5% interest in the Cigar Lake Joint Venture. Cameco's ownership will rise to 57.418%, and Orano's to 42.582%. This consolidates ownership of the large, high-grade uranium deposit in Saskatchewan, Canada.

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Key Numbers

5%TEPCO's participating interest in Cigar Lake Joint Venture
57.418%Cameco's new ownership stake in Cigar Lake mine
42.582%Orano's new ownership stake in Cigar Lake mine
2.871%Cameco's increase in ownership stake
2.129%Orano's increase in ownership stake

Who's Involved

Cameco
Acquiring increased ownership in Cigar Lake mine
Orano Canada Inc.
Acquiring increased ownership in Cigar Lake mine
TEPCO Resources Inc.
Selling its 5% participating interest in Cigar Lake Joint Venture

↳ Why This Matters

Cameco is a major global producer of uranium, essential for nuclear power generation. The Cigar Lake mine is one of the world's largest high-grade uranium deposits. This transaction consolidates ownership and potentially streamlines operations.

Key facts

  • Cameco and Orano will acquire TEPCO's 5% interest in the Cigar Lake Joint Venture.
  • Cameco's ownership stake in the Cigar Lake mine will increase to 57.418%.
  • Orano's ownership stake in the Cigar Lake mine will increase to 42.582%.

Cameco is a major global producer of uranium, essential for nuclear power generation. The Cigar Lake mine is one of the world's largest high-grade uranium deposits. This transaction consolidates ownership and potentially streamlines operations.

Frequently asked questions

The Cigar Lake mine is a large, high-grade uranium deposit located in northern Saskatchewan, Canada.

Cameco and Orano Canada Inc. are acquiring the stake from TEPCO Resources Inc.

Cameco will own 57.418% and Orano will own 42.582% of the Cigar Lake Joint Venture.

What Happens Next

01Transaction closing.

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Cadence
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How It Developed

1 Jun · 3:49 PM
Orano Canada Inc. is increasing its ownership stake in the Cigar Lake mine.
Financial Post via PiQSuite
1 Jun · 10:36 AM
Cameco and Orano will acquire TEPCO's 5% stake in the Cigar Lake Joint Venture, increasing Cameco's ownership to 57.418%.
Financial Post via PiQSuite

Sources

T1
Cameco Increases Ownership Stake in Cigar Lake Minem.piqsuite.com
T1
Orano Increases Ownership in Cigar Lake Mine in Canadam.piqsuite.com

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