Cameco to shutdown McArthur mine and Key Lake mill ahead of strike
TORONTO (miningweekly.com) – Canadian uranium producer Cameco on Wednesday announced that it would shut down operations at its McArthur mine and Key Lake mill in Saskatchewan’s Athabasca basin, after receiving a strike notice from the local United Steelworkers union.
The union had advised Cameco of its intention to start strike action from 00:01 on Saturday, prompting Cameco to issue a lockout notice to assure a safe and orderly shutdown of its facilities.
Cameco noted that it was continuing to meet with the union during the 72-hour notice period.
The work stoppage involved about 535 unionised employees at the two operations. Contract negotiations started in November last year. The previous four-year contract expired December 31.
In July, the company and union jointly applied for conciliation under the Canada Labour Code.
The labour disruption was not expected to affect the company's full-year uranium delivery commitments to customers. Cameco highlighted that it could draw on a variety of supply sources, including primary production and existing purchase commitments and inventories.
McArthur River is the world's largest high-grade uranium mine. Ore grades within the deposit are 100 times the world average, which means the operation can produce over 18-million pounds of uranium each year by mining only between 150 t/d and 200 t/d of ore.
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