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Cameco Restarts Cigar Lake Uranium Production

Cameco Corporation announced that its Cigar Lake uranium mine in northern Saskatchewan has resumed production after a temporary suspension caused by challenges at Orano’s McClean Lake mill, where Cigar Lake ore is processed.

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
6-K

Rhea-AI Filing Summary

Cameco Corporation announced that its Cigar Lake uranium mine in northern Saskatchewan has resumed production after a temporary suspension caused by challenges at Orano’s McClean Lake mill, where Cigar Lake ore is processed. The McClean Lake mill has also returned to operation, and Cigar Lake is again shipping stockpiled ore and producing.

The company stated that its 2026 production outlook for Cigar Lake remains unchanged at a range of 17.5 million to 18.0 million pounds of U3O8 on a 100% basis. Cameco noted that this outlook could be affected by any future suspension of operations at Cigar Lake or other adverse production impacts, and directed readers to its annual information form and management’s discussion and analysis for further risk details.

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Cigar Lake 2026 production outlook (low end) 17.5 million pounds of U3O8 (100% basis) Lower bound of the 2026 production outlook range for Cigar Lake
Cigar Lake 2026 production outlook (high end) 18.0 million pounds of U3O8 (100% basis) Upper bound of the 2026 production outlook range for Cigar Lake
Outlook year 2026 Year for which the Cigar Lake production outlook is provided
U3O8 technical
"outlook range for Cigar Lake remains between 17.5 million and 18.0 million pounds of U3O8"
U3O8 is the chemical name for a stable form of uranium oxide commonly called “yellowcake,” the concentrated powder produced after uranium ore is processed. Investors track U3O8 because it represents the raw material that is turned into nuclear fuel; its supply, demand and price act like a commodity indicator that can move the value of mining companies, utilities and firms tied to the nuclear fuel chain. Think of it as the crude oil equivalent for nuclear power — a basic feedstock whose availability and cost affect an entire industry.
forward-looking information regulatory
"statements and information about our expectations for the future, which we refer to as forward-looking information"
Forward-looking information are predictions, plans, estimates or expectations about a company’s future performance, results or events, such as sales forecasts, project timelines, or anticipated costs. It matters to investors because these statements guide expectations but rely on assumptions and uncertain factors—like a weather forecast for a business—so investors should treat them as informed guesses rather than guarantees and consider the risks and possible changes behind the numbers.
annual information form regulatory
"Please also see our most recent annual information form"
A company's annual information form is a comprehensive regulatory filing that lays out its business description, key assets, risks, legal matters and other background details shareholders need to understand the company’s operations. Think of it as a detailed owner’s manual or dossier that supplements financial statements, helping investors do deeper homework on how the business works and what could affect its future performance.
management’s discussion and analysis financial
"and our most recent annual and quarterly management’s discussion and analysis"
Management’s discussion and analysis (MD&A) is a narrative section of a company’s financial filing where executives explain the recent financial results, underlying causes of those results, trends they see, and material risks and uncertainties in everyday language. Investors rely on it like a company’s report card with the manager’s comments—helping interpret raw numbers, judge future prospects and cash needs, and spot warnings or opportunities that the financial statements alone may not reveal.
nuclear fuel cycle technical
"significant investments across the nuclear fuel cycle, including ownership interests in Westinghouse Electric Company"
The nuclear fuel cycle is the full supply chain that turns raw uranium into usable reactor fuel, manages its use in power generation, and handles spent fuel and any recycling or disposal. Think of it like the path from coffee beans to a brewed cup and the leftover grounds — each step (mining, conversion, enrichment, fabrication, reactor use, storage or reprocessing) affects cost, regulatory risk, supply security and long-term liabilities, all of which influence the value and prospects of companies involved.

FAQ

What did Cameco (CCJ) disclose about the Cigar Lake mine in this 6-K?
Cameco reported that its Cigar Lake uranium mine and Orano’s McClean Lake mill have resumed operations after a temporary suspension. Cigar Lake has restarted production and begun shipping stockpiled ore to the mill in northern Saskatchewan.

How is Cameco’s (CCJ) 2026 Cigar Lake production outlook affected?
Cameco stated that its 2026 Cigar Lake production outlook remains unchanged, still between 17.5 million and 18.0 million pounds of U3O8 on a 100% basis, despite the recent temporary suspension and subsequent restart of operations.

What caused the temporary suspension at Cameco’s (CCJ) Cigar Lake operation?
The temporary suspension of Cigar Lake production was due to challenges at Orano’s McClean Lake mill, where Cigar Lake ore is processed. With the McClean Lake mill now operating again, Cigar Lake has resumed shipping ore and restarted mine production.

What risks to Cigar Lake’s 2026 outlook does Cameco (CCJ) highlight?
Cameco notes that its 2026 Cigar Lake production outlook could be affected by any further suspension of operations at Cigar Lake or other adverse production impacts, and refers readers to its risk discussions in its annual information form and management’s discussion and analysis.

How does Cigar Lake fit into Cameco’s (CCJ) broader business profile?
Cigar Lake supports Cameco’s role as a major global provider of uranium fuel. The company emphasizes its controlling ownership of high-grade reserves, low-cost operations, and investments across the nuclear fuel cycle, including interests in Westinghouse Electric Company and Global Laser Enrichment.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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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 July, 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 July 14, 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: July 15, 2026

  

             

  

Cameco Corporation

    By: /s/ R. Liam Mooney       
   

R. Liam Mooney

   

Senior Vice-President and Chief Legal Officer

Exhibit 99.1

 

LOGO

 

NEWS RELEASE   www.cameco.com   Saskatoon

 

All amounts in Canadian dollars

unless specified otherwise

     Saskatchewan
Canada

 

 

Cigar Lake Mine Resumes Production

July 14, 2026

Cameco (TSX: CCO; NYSE: CCJ) today announced our Cigar Lake mine in northern Saskatchewan has resumed production activities following a temporary suspension due to challenges at Orano’s McClean Lake mill, where Cigar Lake ore is processed.

The McClean Lake mill has now resumed operations. Cigar Lake has begun shipping stockpiled ore to the mill and has restarted production at the mine.

Our 2026 production outlook range for Cigar Lake has not been impacted by the temporary suspension of production and remains between 17.5 million and 18.0 million pounds of U3O8 (100% basis).

Caution about forward-looking information

This news release includes statements and information about our expectations for the future, which we refer to as forward-looking information. Forward-looking information is based on our current views, which can change significantly, and actual results and events may be significantly different from what we currently expect. The forward-looking information in this news release relates to our 2026 production outlook for Cigar Lake. Material risks that could lead to different results include the possibility that our 2026 production outlook could be impacted if there is a further suspension of operations at Cigar Lake, or if production is adversely impacted for other reasons. In presenting this forward-looking information, we have made assumptions which may prove incorrect, including assumptions regarding the ability of Cigar Lake to continue its operations without further suspension, and otherwise to meet our production expectations. Please also see our most recent annual information form, and our most recent annual and quarterly management’s discussion and analysis, for a discussion of other risks that could impact our Cigar Lake 2026 production outlook. Forward-looking information is designed to help you understand management’s current views of our near-term and longer-term prospects, and it may not be appropriate for other purposes. We will not necessarily update this information unless we are required to by securities laws.

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.

- End -

Investor inquiries      Media inquiries

Cory Kos

      Veronica Baker

306-716-6782

      306-385-5541

cory_kos@cameco.com

      veronica_baker@cameco.com

 

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Source: View Original Filing on SEC EDGAR

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