CAMECO (TSX: CCO; NYSE: CCJ) announces that it has completed today the acquisition of the interest of Idemitsu Canada Resources Ltd. (Idemitsu) of 7.875% in the Cigar Lake joint venture of Cameco and Orano Canada Inc. (Orano).
Cameco’s stake in the Cigar Lake uranium mine in northern Saskatchewan now stands at 54.547%, 4.522 percentage points higher than before the transaction, while Orano’s stake stands at 40.453%, an increase of 3.353 percentage points from his previous level of participation. TEPCO Resources Inc. retains the remaining 5% ownership.
For further information regarding this transaction, please see Cameco’s press release dated May 10, 2022 announcing the acquisition.
Profile
Cameco is one of the world’s largest suppliers of the uranium fuel needed to power a clean-air world. Our competitive position is based on controlling the world’s largest high-grade reserves with low-cost operations. Utilities around the world rely on our nuclear fuel products to generate electricity in safe, reliable, zero-carbon nuclear reactors. Our shares are traded on the Toronto Stock Exchange and the New York Stock Exchange. Our head office is located in Saskatoon, Saskatchewan.
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