Cameco resumes Cigar Lake production, maintains outlook

• Cameco restarted production at Cigar Lake after operations resumed at Orano’s McClean Lake processing mill.
• Cameco shares were quoted at $91.57, up about 1.5% from the previous close.
• The company maintained its 2026 Cigar Lake production outlook of 17.5–18 million pounds of U3O8.

Cameco (NYSE:CCJ) resumed production at Cigar Lake and maintained its 2026 output forecast of 17.5–18 million pounds of U3O8.

The mine suspended operations on July 1 after sulfuric acid plant problems halted Orano’s McClean Lake mill, with a restart initially expected within about two weeks.

McClean Lake is now operating again, allowing Cameco to ship stockpiled ore and restart mining activities at Cigar Lake.

The forecast remains stated on a 100% ownership basis, while Cameco cautioned that future disruptions could cause actual production to differ from its expectations.

Following the announcement, Cameco's share price was up 1.5% at $91.57.

Earlier in July, Cameco closed a deal that raised its Cigar Lake ownership by 2.871 percentage points to 57.418%.

In May, Cameco restored full production at McArthur River and Key Lake after flooding disrupted supply routes, while leaving its consolidated 2026 outlook unchanged.