en.Wedoany.com Reported - Canadian uranium company Cameco Corporation (TSX: CCO; NYSE: CCJ) announced on July 14, 2026, that production activities have resumed at its Cigar Lake uranium mine in northern Saskatchewan. The mine had been forced to suspend production in early July due to operational issues at the McClean Lake mill, operated by Orano, which processes ore from Cigar Lake. The problem stemmed from equipment failure in the mill's sulfuric acid plant, requiring a shutdown for repairs. The McClean Lake mill has now resumed operations, and the Cigar Lake mine has begun shipping stockpiled ore to the mill and restarting underground production.

Cameco stated that the approximately two-week production interruption did not affect the 2026 production target for the Cigar Lake mine. On a 100% basis, the mine's full-year production guidance remains at 17.5 million to 18 million pounds of U₃O₈. As the world's second-largest uranium producer, Cameco contributed approximately 15% of global uranium production in 2025.

Located in northern Saskatchewan, Canada, the Cigar Lake mine is renowned for its extremely high-grade uranium ore and long service life, making it one of the world's premier uranium mines. Cameco recently increased its stake in the mine by 2.871 percentage points to 57.418%. In 2025, the mine produced a total of 19.1 million pounds of uranium. The company is planning to extend the mine life of Cigar Lake to 2036.

The restart of the Cigar Lake mine marks the second operational challenge successfully addressed by Cameco in 2026. In May 2026, its McArthur River mine and Key Lake mill temporarily suspended operations after a critical transport bridge partially collapsed due to flooding in northern Saskatchewan. The company quickly established alternative logistics routes and resumed production.

Cameco maintains its 2026 consolidated attributable uranium production guidance of 19.5 million to 21.5 million pounds of U₃O₈. Production guidance for the McArthur River and Key Lake operations is 14 million to 16.5 million pounds. This restart eliminates a near-term operational risk, and as global nuclear power companies accelerate long-term contract signings, Cameco's average annual uranium deliveries over the next five years have exceeded 28 million pounds.