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February 24, 2010

Cameco Uranium Production 2009-2014

Cameco forecast - does not include Cigar Lake for 2013 and 2014


Cameco is Canada's largest uranium company and they released their 2009 annual report Here are the highlights:

* 20.8 million pounds U308 produced in 2009, 20% increase from 2008
* 16.8 million pounds in Canada. Less 4 million pounds in Cameco report from the US and Khazakhstan.
* Expected 2010 production 21.5 million pounds of U3O8, or +3% from 2009
* expect Cigar Lake to begin production in mid-2013. Production outlook for Cigar Lake in the technical report at the end of first quarter 2010
* By 2011, Inkai (in Khazakhstan) is expected to reach production of 5.2 million pounds of U3O8 per year (our share 3.1 million pounds)





Previous estimate for 2009 looks good. 1200 tons to low for Kazakhstan. Kazakhstan declared 13,900 tons mined in 2009

2009 seems to have had about 51,000 tons of uranium produced for the world. Even just the Cameco US mines indicate there be more uranium prouduction growth in the US.


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