Cameco resumes Cigar Lake uranium mine operations and maintains 2026 U3O8 production outlook, supporting nuclear-powered data-center thesis.

Cameco Corporation has announced that its Cigar Lake uranium mine in northern Saskatchewan has resumed production following a temporary suspension caused by operational challenges at Orano's McClean Lake mill, where Cigar Lake ore is processed. The McClean Lake mill has returned to operations, and Cigar Lake has begun shipping stockpiled ore and has restarted production at the mine.

The company's 2026 production outlook for Cigar Lake remains unchanged at 17.5 million to 18.0 million pounds of U3O8 on a 100% basis. This outlook reflects the temporary suspension's minimal impact on the year's expected output.

Cameco notes that the forward-looking production guidance carries risks. A further suspension of operations at Cigar Lake or other adverse production impacts could significantly affect 2026 results. The company has based its assumptions on its ability to continue Cigar Lake operations without further interruption and to meet stated production expectations. Additional risks are detailed in the company's most recent annual information form and management's discussion and analysis.

Cameco is one of the world's largest uranium providers, supplying nuclear fuel for global power generation. The company's competitive position rests on controlling ownership of the world's largest high-grade uranium reserves and low-cost operations, combined with significant investments across the nuclear fuel cycle, including ownership interests in Westinghouse Electric Company and Global Laser Enrichment. Utilities worldwide rely on Cameco for nuclear fuel solutions. The company trades on the Toronto and New York stock exchanges, with headquarters in Saskatoon, Saskatchewan, Canada.