Flooded routes force Cameco (NYSE: CCJ) to pause Key Lake and cut McArthur output
Rhea-AI Filing Summary
Cameco Corporation reported an operational update for its northern Saskatchewan sites following regional flooding that has damaged transportation routes. Flooding caused the collapse of the Smoothstone River Bridge on the primary supply route to the McArthur River mine and Key Lake mill, and restrictions exist on an alternative road.
As a result, Cameco has temporarily halted production activities at the Key Lake mill and reduced activity at the McArthur River mine until normal deliveries of critical operating materials can resume, with the timing currently unknown. The Cigar Lake mine continues to operate, and the company’s consolidated annual production plan remains unchanged, although Cameco notes a risk that its 2026 production outlook for the McArthur River/Key Lake operation could be affected depending on the duration of road restrictions and delivery capabilities.
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Insights
Cameco faces logistics-driven disruptions at two key Saskatchewan assets while maintaining its overall annual production plan.
Cameco temporarily halted the Key Lake mill and reduced activity at the McArthur River mine because flooding collapsed a key bridge and constrained an alternative route. The sites themselves are not flooded; the issue is logistics for critical operating materials.
The company states its consolidated annual production plan remains unchanged, but it acknowledges that the 2026 production outlook for the McArthur River/Key Lake operation could be impacted if road restrictions persist. Actual effects will depend on how quickly normal deliveries resume and whether alternative transport arrangements can reliably support operations.
Cigar Lake continues to operate, which helps support Cameco’s broader uranium supply position. Subsequent company communications may clarify any revisions to the McArthur River/Key Lake 2026 outlook if access challenges continue beyond the current, unspecified timeline.
Key Terms
northern Saskatchewan sites financial
McArthur River mine financial
Key Lake mill financial
consolidated annual production plan financial
uranium fuel financial
nuclear fuel cycle financial
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of May, 2026
Commission File Number 1-14228
Cameco Corporation
(Translation of Registrant’s Name into English)
2121-11th Street West
Saskatoon, Saskatchewan, Canada S7M 1J3
(Address of Principal Executive Offices)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
| Form 20-F | Form 40-F ✓ |
| Exhibit Index | ||
| Exhibit No. | Description | |
| 99.1 | Press Release dated May 10, 2026 | |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| Date: May 11, 2026 | Cameco Corporation | |
| By: /s/ R. Liam Mooney | ||
| R. Liam Mooney | ||
| Senior Vice-President and Chief Legal Officer | ||
Exhibit 99.1
| NEWS RELEASE
All amounts in Canadian dollars unless specified otherwise |
www.cameco.com | Saskatoon
Saskatchewan Canada | ||
Northern Saskatchewan Operations Update
May 10, 2026
Cameco (TSX: CCO; NYSE: CCJ) today provided an operational update for our northern Saskatchewan sites amidst flooding in the region, which is impacting roadways.
Our northern Saskatchewan sites are not directly impacted by flood waters. However, flooding has caused the collapse of the Smoothstone River Bridge, which is on the primary route we use to transport supplies to the McArthur River and Key Lake sites, and there are restrictions in place on the use of an alternative roadway. We are in regular contact with the Saskatchewan Ministry of Highways, and we are working with our sites to minimize the impact of delivery disruptions. However, we have temporarily halted production activities at Key Lake mill and reduced activity at McArthur River mine until the normal delivery of critical operating materials can resume. The timeline for the resumption of normal deliveries is currently unknown.
At present, the Cigar Lake mine continues to operate, and our consolidated annual production plan remains unchanged. Depending on the duration of the road restrictions and our ability to make deliveries of critical operating materials, there is a risk that our 2026 production outlook for the McArthur River/Key Lake operation could be impacted.
Profile
Cameco is one of the largest global providers of the uranium fuel needed to power a secure energy future. Our competitive position is based on our controlling ownership of the world’s largest high-grade reserves and low-cost operations, as well as significant investments across the nuclear fuel cycle, including ownership interests in Westinghouse Electric Company and Global Laser Enrichment. Utilities around the world rely on Cameco to provide global nuclear fuel solutions for the generation of safe, reliable, carbon-free nuclear power. Our shares trade on the Toronto and New York stock exchanges. Our head office is in Saskatoon, Saskatchewan, Canada.
As used in this news release, the terms we, us, our, the Company and Cameco mean Cameco Corporation and its subsidiaries unless otherwise indicated.
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| Investor inquiries | Media inquiries | |
| Cory Kos | Veronica Baker | |
| 306-716-6782 | 306-385-5541 | |
| cory_kos@cameco.com | veronica_baker@cameco.com | |