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November 28, 2022
Saskatchewan continues to play a crucial role in global energy security
Saskatchewan-based Cameco Corporation has resumed production from its McArthur River mine and Key Lake mill facilities, with Premier Scott Moe and MLA Jim Lemaigre in attendance to celebrate with employees and northern leaders. After announcing plans earlier this year to restart operations, Cameco recently announced that the first pounds of uranium ore were mined, then milled and packaged for distribution.
“The announcement by Cameco to resume production at its McArthur River mine and Key Lake mill further positions Saskatchewan as a critical and sustainable supplier of fuel and resources the world needs,” Premier Scott Moe said. “Congratulations to Cameco on this achievement and for providing over 700 jobs to our province’s northerners.”
The mine and mill currently employ approximately 730 people, more than half of which are of Indigenous heritage. Cameco is planning additional hiring for the sites going forward and is striving for a year-end workforce that has a higher representation of women and Indigenous people than from pre-shutdown levels.
“Cameco is a leader in Indigenous engagement and involvement, providing vital opportunities and partnerships with members in our communities,” MLA for Athabasca Jim Lemaigre said. “The resumption of operations at McArthur River and Key Lake is great news for Northern Saskatchewan, from employment to procurement. I look forward to further engaging with Cameco regarding their future in Saskatchewan’s north.”
Saskatchewan was the third-largest global producer of uranium in 2021 and the outlook is very strong for 2022, with interest having increased considerably over the past year as countries are seeking safe, reliable and clean energy products. Offering a stable and secure environment, Saskatchewan is a leader in critical mineral production, and second among mining investment attractiveness in the world according to the 2021 Fraser Institute Annual Survey of Mining Companies.
“We are delighted to have McArthur River and Key Lake back in production. Having these two operations up and running allows us to provide hundreds of jobs to northern Saskatchewan, brings back business to our valued northern suppliers and results in increased investment and economic activity in surrounding communities,” Cameco President and CEO Tim Gitzel said. “It also means more Saskatchewan uranium powering clean nuclear energy here in Canada and around the world. This is a win all around – for Cameco and our workers, for our northern partners, for our customers and for the entire province.”
The Government of Saskatchewan continues to look at the development of Small Modular Reactor (SMR) technology, as laid out in Saskatchewan’s Growth Plan, to be fueled by Saskatchewan uranium. As Saskatchewan looks to provide families and businesses with safe and reliable baseload power, energy security remains a top priority for the provincial government.
Saskatchewan uranium sales year-to-date are $717 million, up over 120 per cent from 2021. With the restart of the McArthur River mine and Key Lake mill and numerous promising projects progressing, the Saskatchewan uranium sector is on track to meet the Provincial Growth Plan goal of achieving $2 billion in annual uranium sales by 2030.
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Energy and Resources
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