Cameco and Orano Canada to Increase Stake in Cigar Lake Uranium Mine
Cameco and Orano Canada have entered into an agreement to acquire TEPCO Resources' 5% interest in the Cigar Lake uranium mine joint venture. This acquisition will increase Cameco's stake in the mine to 57.418% and Orano's to 42.582%. Cameco is set to pay approximately C$115.75 million for its portion of the interest, with the transaction expected to close in the third quarter of 2026, pending regulatory approval. The Cigar Lake mine, located in northern Saskatchewan, Canada, is one of the world's leading uranium mines, known for its high-grade uranium ore. Since its production commencement in 2014, the mine has produced nearly 174.5 million pounds of uranium. Cameco plans to continue production and development activities in the current mining zone, CLMain, and work on the Cigar Lake extension (CLExt) to support operations through 2036. 
