Benzinga | Jul 1, 2021 01:32PM EDT

Cameco Says Evacuating Cigar Lake As A Precaution Due To Wildfire: Shares Were Previously Halted On News

Cameco (TSX:CCO, NYSE:CCJ) has made the decision to evacuate all non-essential personnel from the Cigar Lake uranium mine in northern Saskatchewan.



The action is being taken as a precaution due to the proximity of a northern wildfire that is currently burning in the vicinity of the operation. The situation is complicated by extremely warm, dry weather, resulting from the heat dome that has settled over western Canada in recent days, along with variable wind and smoke conditions.

Production at Cigar Lake has been temporarily suspended. Approximately 230 workers are being transported off site. Roughly 80 essential personnel will remain on site to maintain the facility in a safe state. Should the wildfire threat grow considerably at site, a plan is in place to ensure their safety.

A number of precautions have been implemented at Cigar Lake to limit the risk posed by the wildfire. Cameco is working closely with provincial wildfire management personnel from the Saskatchewan Public Safety Agency, who are on-site assessing the situation on an ongoing basis. The decision to evacuate the operation was made in conjunction with these officials.