Production at world’s biggest uranium mine suspended indefinitely

Initially intended to be a 10-month suspension, production at McArthur River in Saskatchewan – the world’s biggest uranium mine – and the nearby Key Lake mill has been extended for an “indeterminate duration”, Canadian uranium major Cameco announced on Wednesday.

President and CEO Tim Gitzel said that Cameco, which posted a $76-million net loss in the June quarter, had not seen the improvement needed in the uranium market to restart the two Saskatchewan mines, which were idled in January.