SASKATOON, Saskatchewan / Sep 03, 2023 / Business Wire / Cameco (TSX: CCO; NYSE: CCJ) provided a market update today regarding challenges at the Cigar Lake mine and Key Lake mill that are expected to impact our 2023 production forecast.

At the Cigar Lake mine, we now expect to produce up to 16.3 million pounds of uranium concentrate (U3O8) (100% basis) this year, a reduction from the previous forecast of 18 million pounds U3O8 (100% basis). Production from the McArthur River/Key Lake operations for 2023 is anticipated to be 14 million pounds U3O8 (100% basis), down from the previous forecast of 15 million pounds U3O8 (100% basis).

As previously reported, mining activities at the Cigar Lake operation were initiated from a new zone in the orebody (west pod) in the second quarter of this year, which impacted productivity. As mining activities continued in the west pod during the third quarter, equipment reliability issues emerged which further affected performance. The mine is scheduled to enter its planned annual maintenance shutdown that will run through most of September.

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https://www.juniorminingnetwork.com/junior-miner-news/press-releases/581-tsx/cco/147354-cameco-provides-production-and-market-update.html