Reduced uranium production worldwide has sparked optimism that the market may be steadying.
Mining projects in Saskatchewan will operate to regular capacity this summer, except for Cameco Corp.’s uranium mine.
Cameco’s Cigar Lake uranium mine and SSR Mining Inc.’s Seabee gold operation opted to go into care and maintenance mode in March. A spokesperson for Cameco said the decision was made to protect workers and northern communities against the spread of COVID-19.
“Above all, we would need to have a sufficient degree of comfort that we could restart the mine, maintain production and bring more personnel back to site while still protecting the safety of our workplace, workforce and surrounding communities,” Jeff Hryhoriw said in an email.
Although Cameco gave no indication when it will resume uranium production, amid spiking gold prices, SSR Mining Inc.’s Seabee gold operations is ramping up operations for August, according to Saskatchewan Mining Association president Pamela Schwann.
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