Mining: AREVA McClean Lake Mill Starts Processing Uranium from Cigar Lake

Regulatory News:

The McClean Lake mill, operated by AREVA (Paris:AREVA) in the Canadian province of Saskatchewan, began processing uranium ore from the Cigar Lake mine, located 70 km away and operating since March 2014.

The McClean Lake mill is the only facility in the world designed to process high-grade uranium ore without dilution. It is expected to produce up to 1 million pounds of uranium this year.

The mill will process 18 million pounds of uranium per year starting 2018, once the Cigar Lake mine has reached full capacity. These two operations combined will become the world’s second largest uranium production centre.

Olivier Wantz, senior executive vice president of AREVA’s Mining Business Group said: "The start of production at the McClean Lake mill represents a strategic investment for AREVA’s mining business and illustrates the quality of our partnership with Canada. With McClean Lake mill in operation, AREVA is creating jobs and offering business opportunities in Saskatchewan.”

The McClean Lake mill is owned by AREVA Resources Canada Inc. (70%), Denison Mines Corp. (22.5%) and OURD Canada Co. Ltd. (7.5%), and is operated by AREVA. The Cigar Lake mine is owned by Cameco Corp. (50.025%, operator), AREVA (37.1%), Idemitsu Canada Resources Ltd. (7.875%) and TEPCO Resources Inc. (5.0%).

MORE ABOUT AREVA
AREVA is a world leader in nuclear power. The group’s offer to utilities covers every stage of the nuclear fuel cycle, reactor design and construction, and operating services. Its expertise and uncompromising dedication to safety make it a leading industry player.
AREVA also invests in renewable energies to develop, via partnerships, high technology solutions.
Through the complementary nature of nuclear and renewables, AREVA’s 45,000 employees contribute to building tomorrow’s energy model: supplying the greatest number of people with energy that is safer and with less CO₂.

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