Tag: Key Lake

‘Paralysis in the market’: Cameco to layoff staff, indefinitely idle uranium plants in ‘confusing times’

By SightlineU3O8   Posted in Equities U
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In the face of rockbottom uranium prices, Cameco is indefinitely shutting down its Key Lake mill and McArthur River mines. Denis O’Hara, 61, has worked for Saskatchewan-based Cameco Corp. in its Key Lake uranium mill for eight years and had hoped to retire there. Instead, he learned on Wednesday evening that he and about 500 …

Cameco Reports Q2 and its Decision to Suspend Production at MCA/KEY for an Indeterminate Duration

By SightlineU3O8   Posted in Equities U
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Cameco (TSX: CCO; NYSE: CCJ) today reported its consolidated financial and operating results for the second quarter ended June 30, 2018 in accordance with International Financial Reporting Standards (IFRS). “Our results reflect the impact of a weak uranium market and the deliberate actions we have taken driven by the goal of increasing long-term shareholder value,” …