Cameco Progress on Cigar Lake Mine

Cameco Corp., the world’s second- largest uranium producer, said repair work at its flooded Cigar Lake mine in Canada is two-thirds complete.

Drainage at the mine is expected to be complete between April and October next year, allowing workers to determine what additional fixes are needed and update the project’s mining plan

The large uranium operation was expected to start production as early as 2008, before a rock fall caused a flood in October 2006

So if things were to go smoothly after Oct, 2010, then one would expect the mine to be operating in about 2012-2013.

The Cigar Lake project contains proven and probable reserves of more than 226,3-million pounds of uranium oxide and is the world’s largest undeveloped high-grade uranium deposit, according to Cameco.

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