Owned by Cameco (50.025%), AREVA Resources Canada (37.1%), Idemitsu Canada Resources (7.875%) and TEPCO Resources (5.0%), the Cameco-operated Cigar Lake project is expected to begin ore production during the first quarter of 2014.
McClean Lake mill, which is majority owned and operated by AREVA, will process the Ore from Cigar Lake while the Cigar Lake mine construction of is 97% complete.
Cameco president and CEO Tim Gitzel said, "Cameco and AREVA are fully committed to bring this exceptional orebody into production in a safe and sustainable way."
As part of annual reporting for 2013, Cameco is planning to revise its five-year production forecast when further progress on commissioning is performed of the mine and mill.
AREVA has advised Cameco to further modifications are required for the mill, which is scheduled to commence Cigar Lake ore processing by the end of the second quarter of 2014.
