A roundup of all the mining news in the precious metals sector with a variety of company news, mining sector analysis, newsletter writer insights and executive interviews.
Cameco announced today it is reducing expected production due to problems at Key Lake mill and Cigar Lake mine.
The Canadian uranium giant expected Cigar Lake mine production to drop from 18 million to 16.3 million pounds of uranium concentrate . "As previously reported, mining activities at the Cigar Lake operation were initiated from a new zone in the orebody 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.
Cameco has been on a tear due to the uptick of uranium, with the company's stock hitting a 12-year high last week.
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