World uranium output downin ’93, though Canada stable

World uranium production declined by almost 8% during 1993, to 85.3 million lb. equivalent U308. While production in most countries remained relatively stable, major decreases were recorded by the Czech Republic, France and the U.S.

A rare year of stability was recorded in Canada during 1993, as all four current production centers sustained output at or near the previous year’s level. With a total of 24 million lb. U308, Canada also maintained its role as the world’s leading uranium producer.

Saskatchewan producers accounted for more than 90% of the country’s output, but the outlook for future production from that province was somewhat clouded by a series of regulatory decisions. A joint federal-provincial panel (JFPP) denied approval for the proposed Midwest project and recommended a 5-year delay in development for the McClean Lake project. Subsequently, a federal review panel concurred with the Midwest verdict but disagreed with the JFPP regarding McClean Lake.

The Key Lake project, a joint venture between Cameco (67%) and Uranerz (33%), produced a world-leading 14 million lb. U308 in 1993. Ore averaging more than 1.5% U308 from the Deilmann open pit at Key Lake provides the current feed to the Key Lake mill. When that deposit is depleted in 1997, it will be replaced by the McArthur River deposit, which contains 260 million lb. at an average grade of 5% U308. An underground exploration program at McArthur River was approved by the JFPP in January, 1993.

Output at Rabbit Lake, another Cameco-Uranerz joint venture, was 6 million lb. U308 in 1993 — half of the rated capacity of the mill. In 1994, production is expected to shift from ores obtained through open-pit mining of now-depleted deposits to ores from underground mining of the newly developed Eagle Point deposit. Exploration of Eagle Point has been ongoing since 1991 and the full production phase was recently approved by the JFPP. Eagle Point reserves total 64 million lb. at an average grade of 1.5% U308. Cogema’s Cluff Lake project produced 2 million lb. U308 in 1993, a level which has remained almost unchanged for a decade.

Also during the year, the JFPP, as well as the federal panel, approved an application to extend Cluff Lake’s existing Dominique-Janine open pit to include another 13 million lb. of reserves grading 0.7% U308. Cogema acquired Cameco’s 20% interest in the project in 1993 and is now the sole owner. In the Elliot Lake district of Ontario, only Rio Algom’s Stanleigh mine operated last year; all other mines were and remain closed. Stanleigh is expected to close in 1996 when its current contract with Ontario Hydro expires.

— The preceding was extracted from “Nuexco Review 1993 Annual Report.”