Cameco today "

How much uranium does Cameco have. List uranium reserves and how long will the mines last. How much uranium does Cameco hold in reserve and how has that changed over the last 5 years

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Cameco's Uranium Reserves and Mine Longevity

Current Uranium Reserves

Cameco's primary uranium reserves are concentrated in Saskatchewan's Athabasca Basin, home to high-grade deposits. Key reserves include:

• McArthur River Mine: Proven and probable reserves of 359.1 million lbs U₃O₈ (as of 2017), with an average grade of 9.63% U₃O₈25.

• Cigar Lake Mine: While exact reserve figures aren't disclosed, it produced 18 million lbs U₃O₈ annually as of 202548.

• Inkai JV (Kazakhstan): Forecasted to produce 9.3 million lbs U₃O₈ in 2025, though specific reserve data isn't public7.

Mine Longevity

• McArthur River/Key Lake: With 359.1 million lbs reserves and annual production of ~18 million lbs, the mine could operate for ~20 years at current rates25.

• Cigar Lake: Cameco plans to extend its life by 5–6 years due to rising demand4.

• Inkai: Dependent on Kazakhstan’s approvals, but no immediate depletion concerns7.

Reserve Changes Over 5 Years

• 2018–2020: McArthur River was on care/maintenance due to low prices, reducing Cameco’s output35.

• 2022–2025: Reserves were reactivated as prices rebounded. McArthur River resumed production, and Cigar Lake expanded48.

• 2024–2025: Cameco’s total production rose to 23.4 million lbs U₃O₈ (2024), up from 17.6 million lbs in 20231.

Outlook: Reserves remain robust, with expansion plans (e.g., Cigar Lake) ensuring supply for decades. Market conditions and partnerships (e.g., Westinghouse) bolster long-term viability18.