Orano Increases Ownership in Cigar Lake Mine in Canada

SASKATOON, Saskatchewan, June 3 (Bernama) -- Orano Canada Inc. (Orano Canada) and Cameco Corporation (Cameco) have reached an agreement to jointly acquire TEPCO Resources Inc. (TEPCO) 5% ownership in the Cigar Lake Joint Venture. Orano is pleased to announce that, upon closing, this transaction will increase its share by 2.129% to a total of 42.582% of the joint venture. Cameco’s ownership will also rise to a total of 57.418%.

“This agreement reflects the strength of our long-term relationship with Cameco and our shared commitment to supporting energy security through reliable, low-carbon nuclear energy. At Orano, we remain focused on investment and operational excellence in support of our customers worldwide,” said Xavier Saint Martin Tillet, Senior Executive Vice President, Orano Mining Business Unit.​​​​​​​​​​​​​​