(Kitco News) – Uranium Royalty (TSX-V: URC, US: URCCF) announced today that it has entered into a definitive agreement to acquire existing royalty interests on the McArthur River and Cigar Lake uranium mines in Saskatchewan, Canada.
McArthur River and Cigar Lake mines rank as the two largest high-grade uranium mines in the world, with ore grade 100 times world averages as disclosed by Cameco.
Based on disclosed production capacities, the mines have the combined capacity equal to 21% of global forecasted uranium demand (2021).
McArthur River and Cigar Lake have a combined total of 557.5 Mlbs of Proven and Probable Mineral Reserves as of December 31, 2020, representing approximately 29% of Global Reasonably Assured Recoverable Resources as stated by the International Atomic Energy Agency for the lowest cost category.
The company acquires 1% Gross Overriding Royalty on an approximate 9% share of uranium production derived from Orano’s ownership interest (~30%) in McArthur River project.
For the rest of this article: https://www.kitco.com/news/2021-02-11/Uranium-Royalty-buys-royalty-interests-on-two-world-s-biggest-uranium-mines.html