Cameco closing northern Saskatchewan mine

Cameco is suspending production at its Rabbit Lake Mine operation in northern Saskatchewan, resulting in about 500 jobs lost.

In the release on their website, they also say production is curtailed at Cameco Resources’ US operations by deferring wellfield development, this results in an addition 85 positions reduced.

“We regret the impact these decisions will have on many of the talented and dedicated people working at these operations and on their home communities,” said Cameco president and CEO Tim Gitzel said in the release.

“Unfortunately, continued depressed market conditions do not support the operating and capital costs needed to sustain production at Rabbit Lake and the US operations. These measures will allow us to continue delivering value to Cameco’s many stakeholders and support the long-term health of our company. We will provide assistance to those affected by these decisions.”