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Cameco updates McArthur River reserves to 241.4M lb U3O8 with $24.03/lb operating costs
CCJCameco Corp
Cameco filed a NI 43-101 technical report for its McArthur River mine, updating mineral reserves to 241.4 million pounds of U3O8 attributable to Cameco as of September 30, 2026. The estimate reflects 6.8 million pounds in packaged production offset by 5.8 million pounds added from Zone B. Operating costs are projected at $24.03 per pound over the mine life, up significantly from previous estimates due to inflation and workforce increases. Life-of-mine capital costs for Cameco's share are estimated at $1.47 billion. The mine is expected to ramp production to 22 million pounds annually by 2030 with a remaining mine life of approximately 17 years. Cameco operates in the uranium mining industry, extracting and processing uranium ore.