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Cameco resumes output after flood hits top uranium mine access
McArthur Rive mine. (Image courtesy of Cameco.)Canada’s Cameco (TSX: CCO; NYSE: CCJ) has restored full production at its McArthur River mine and Key Lake mill in northern Saskatchewan after flooding earlier this month disrupted transportation between the two sites.
The uranium producer halted production at Key Lake on May 10 and reduced activity at McArthur River after flood waters partially collapsed the Smoothstone River bridge, a critical transport link used to move materials between the operations. Cameco said its sites were not directly damaged by flooding, but weight and traffic restrictions on an alternate route interrupted deliveries of operating supplies.
“We remain in contact with the Saskatchewan Ministry of Highways to ensure timely restored access to our primary supply route,” the company said.
Canada’s Cameco (TSX: CCO; NYSE: CCJ) has restored full production at its McArthur River mine and Key Lake mill in northern Saskatchewan after flooding earlier this month disrupted transportation between the two sites.
The uranium producer halted production at Key Lake on May 10 and reduced activity at McArthur River after flood waters partially collapsed the Smoothstone River bridge, a critical transport link used to move materials between the operations. Cameco said its sites were not directly damaged by flooding, but weight and traffic restrictions on an alternate route interrupted deliveries of operating supplies.
“We remain in contact with the Saskatchewan Ministry of Highways to ensure timely restored access to our primary supply route,” the company said.
Plans intact
McArthur River is one of the world’s largest uranium mines and a major source of global supply. Cameco said the disruption has not altered its production plans for the McArthur River/Key Lake operation, while the Cigar Lake mine continued operating normally throughout the incident. The company maintained its 2026 consolidated production outlook of 19.5 million to 21.5 million lb. of triuranium octoxide (U3O8).
Cameco’s rebound comes as uranium markets remain focused on supply reliability amid growing demand tied to nuclear energy expansion and energy security initiatives across North America and Europe.
McArthur River is one of the world’s largest uranium mines and a major source of global supply. Cameco said the disruption has not altered its production plans for the McArthur River/Key Lake operation, while the Cigar Lake mine continued operating normally throughout the incident. The company maintained its 2026 consolidated production outlook of 19.5 million to 21.5 million lb. of triuranium octoxide (U3O8).
Cameco’s rebound comes as uranium markets remain focused on supply reliability amid growing demand tied to nuclear energy expansion and energy security initiatives across North America and Europe.
Eagle Nuclear advances Aurora uranium project with key environmental work
Eagle Nuclear Energy (NASDAQ: NUCL) announced Thursday it has completed key environmental and site-readiness initiatives at its flagship Aurora uranium project located along the Oregon–Nevada border.
The news follows Eagle’s commencement of environmental baseline studies at Aurora this month and marks progress toward the company’s planned 27,000-foot pre-feasibility study (PFS).
The completed initiatives include installation of the meteorological station; completion of the wetland delineation study and completion of the cultural and archeological survey, the company said.
Aurora is the largest conventional, measured and indicated uranium deposit in the US, the company has said. To date, it has defined an indicated resource of 32.75 million lb. and nearly 5 million lb. inferred.
Uranium is a crucial source of reliable baseload power as nuclear energy, and the US requires an estimated 32 million lb. of uranium annually for its current nuclear reactors. In 2024, the US purchased 50 million lb. of uranium, but only produced 677,000 lb., according to the Energy Information Administration.
Aurora anchors Eagle’s long-term strategy to develop an integrated nuclear energy platform combining domestic uranium resources with advanced SMR technology.
Energy Fuels’ White Mesa Mill in Utah is the only producing mill in the US.
“Advancing Aurora responsibly and efficiently remains a key priority as the United States looks to strengthen its domestic uranium supply chain,” Eagle’s VP, operations Vishal Gupta said in a news release.
“The completion of these studies and site initiatives marks important progress in advancing the project through the environmental review and permitting process,” Gupta said. “We remain focused on progressing Aurora methodically and responsibly while continuing to generate the critical data needed to support future development activities.”
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