Key Takeaways:
Cameco Corp. said its Key Lake mill and McArthur River mine in northern Saskatchewan returned to full production Wednesday, ending a 17-day disruption triggered by a bridge collapse from spring flooding.
Cameco (TSX: CCO; NYSE: CCJ) announced that operations resumed after the company secured consistent deliveries of critical operating materials via a secondary roadway. The primary supply route — the Smoothstone River Bridge — partially collapsed on or around May 10 due to flood waters, forcing Key Lake to halt production and McArthur River to reduce activities.
"Our 2026 consolidated production outlook remains unchanged," Cameco said in a statement. The company is targeting 19.5 million to 21.5 million pounds of U3O8 (its share) for the full year. Cigar Lake, Cameco's other Saskatchewan mine, was not impacted and continued operating throughout the disruption.
The company said it remains in regular contact with the Saskatchewan Ministry of Highways regarding restoration of the primary supply route. Cameco cautioned that continued thawing and precipitation could result in further road restrictions, potentially delaying future deliveries of operating materials.
Cameco, headquartered in Saskatoon, is one of the world's largest uranium fuel suppliers, with controlling ownership of the largest high-grade reserves and low-cost operations globally. The company also holds ownership interests in Westinghouse Electric Co. and Global Laser Enrichment, giving it exposure across the nuclear fuel cycle.
The 17-day outage at the McArthur River/Key Lake complex — one of the world's largest uranium production hubs — did not alter Cameco's annual production plan. Investors will watch for any unplanned costs tied to the bridge repair or secondary route logistics in the company's next quarterly disclosure.
This article is for informational purposes only and does not constitute investment advice.
