Production Resumes at JV Inkai
Cameco (TSX: CCO; NYSE: CCJ) has announced that production has resumed at the Inkai operation, according to information received from their partner National Atomic Company Kazatomprom JSC and Joint Venture Inkai LLP. Cameco, which owns a 40% share in the joint venture, while Kazatomprom holds a 60% interest, is now collaborating with their partners to assess how the recent production suspension will affect the operation's 2025 production plans.
Cameco (TSX: CCO; NYSE: CCJ) ha annunciato che la produzione è ripresa presso l'operazione Inkai, secondo le informazioni ricevute dal loro partner National Atomic Company Kazatomprom JSC e Joint Venture Inkai LLP. Cameco, che detiene una quota del 40% nella joint venture, mentre Kazatomprom possiede un interesse del 60%, sta ora collaborando con i loro partner per valutare come la recente sospensione della produzione influenzerà i piani di produzione dell'operazione per il 2025.
Cameco (TSX: CCO; NYSE: CCJ) ha anunciado que se ha reanudado la producción en la operación Inkai, según la información recibida de su socio National Atomic Company Kazatomprom JSC y Joint Venture Inkai LLP. Cameco, que posee una participación del 40% en la empresa conjunta, mientras Kazatomprom tiene un interés del 60%, está colaborando ahora con sus socios para evaluar cómo la reciente suspensión de la producción afectará los planes de producción de la operación para 2025.
Cameco (TSX: CCO; NYSE: CCJ)는 Inkai 운영에서 생산이 재개되었다고 발표했습니다. 이는 파트너인 National Atomic Company Kazatomprom JSC와 Joint Venture Inkai LLP로부터 받은 정보에 따른 것입니다. Cameco는 합작투자의 40%를 소유하고 있으며, Kazatomprom은 60%의 지분을 보유하고 있습니다. 현재 Cameco는 최근의 생산 중단이 2025년 운영 계획에 어떤 영향을 미칠지 평가하기 위해 파트너와 협력하고 있습니다.
Cameco (TSX: CCO; NYSE: CCJ) a annoncé que la production a repris à l'opération Inkai, selon les informations reçues de son partenaire National Atomic Company Kazatomprom JSC et Joint Venture Inkai LLP. Cameco, qui détient une participation de 40 % dans la coentreprise, tandis que Kazatomprom détient un intérêt de 60 %, collabore maintenant avec ses partenaires pour évaluer comment la récente suspension de production affectera les plans de production de l'opération pour 2025.
Cameco (TSX: CCO; NYSE: CCJ) hat bekanntgegeben, dass die Produktion in der Inkai-Betrieb wieder aufgenommen wurde, basierend auf Informationen, die von ihrem Partner, der National Atomic Company Kazatomprom JSC und Joint Venture Inkai LLP, erhalten wurden. Cameco, das 40% der Anteile an dem Joint Venture besitzt und Kazatomprom 60%, arbeitet nun mit seinen Partnern zusammen, um zu bewerten, wie die kürzliche Produktionsunterbrechung die Produktionspläne des Betriebs für 2025 beeinflussen wird.
- Production has resumed at the Inkai operation
- Production suspension may impact 2025 production plans
Insights
The resumption of operations at JV Inkai represents a important development in the global uranium supply chain. The facility, which is one of the world's largest in-situ recovery (ISR) uranium operations, plays a vital role in meeting global nuclear fuel demand. While production has restarted, the temporary suspension's impact on 2025 production targets creates uncertainty that warrants careful monitoring.
The timing of this operational restart is particularly significant given the current tight uranium market conditions and growing nuclear energy demand worldwide. JV Inkai's production capacity typically accounts for approximately 8 million pounds of uranium annually at full operation, representing a substantial portion of Cameco's attributable production through its 40% ownership stake.
Several key factors make this development particularly noteworthy for investors:
- Kazakhstan is the world's largest uranium producer and disruptions at major operations like Inkai can significantly impact global supply dynamics
- The joint venture structure with Kazatomprom, holding 60% interest, provides important geopolitical context given Kazakhstan's dominant position in global uranium production
- Any potential revision to 2025 production plans could affect uranium spot prices and long-term contract negotiations in an already supply-constrained market
While the resumption of production is positive, investors should closely monitor forthcoming updates regarding the operation's 2025 production guidance, as this will provide important insights into potential supply impacts and Cameco's production profile for the year.
Cameco and Kazatomprom are now working with JV Inkai to determine the impact of the production suspension on the operation’s 2025 production plans.
Kazatomprom holds a
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. Examples of forward-looking information in this news release include: the impact of the production suspension on the operation’s 2025 production plans.
Material risks that could lead to different results include: complexity and uncertainty in the application, interpretation and enforcement of the laws of the
Please also review the discussion in the “Risk Factors” section of our current annual information form and the “Other relevant data and information – Regulatory risks” and “Other relevant data and information – Production and product delivery risks” sections of our technical report “Inkai Operation, Turkestan Region, Republic of Kazakhstan” dated November 12, 2024 for other material risks that could cause actual results to differ significantly from our current expectations, and other material assumptions we have made. 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 energize a clean-air world. 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
As used in this news release, the terms we, us, our, the Company and Cameco mean Cameco Corporation and its subsidiaries unless otherwise indicated.
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Investor inquiries:
Cory Kos
306-716-6782
cory_kos@cameco.com
Media inquiries:
Veronica Baker
306-385-5541
veronica_baker@cameco.com
Source: Cameco
FAQ
When did production resume at Cameco's JV Inkai operation?
What is Cameco's (CCJ) ownership stake in JV Inkai?
How might the production suspension affect CCJ's 2025 production plans?
What steps is CCJ taking to address the production suspension at JV Inkai?
