AREVA, Denison and OURD Ltd., joint venture* partners in the Midwest uranium mine, have announced their decision to proceed with its exploitation.
Located 15 km from McClean Lake operated by AREVA, the Midwest open pit mine will produce approximately 14,000 tons of uranium. Subsequently, other deposits near the mine could be exploited. The total capital cost including mine development and the related McClean Lake mill expansion will amount to approximately 275 million euros.
“Midwest is an important project for the Group that has launched an ambitious program to increase its uranium production” declared Sébastien de Montessus, AREVA’s Mines Business Unit Director. “This project will strengthen AREVA’s presence in Saskatchewan, one of the world’s regions with the highest concentration in uranium.”
Subject to regulatory approvals, site construction should begin in mid-2009. The project will employ an additional 150 people and will perpetuate the operation of McClean Lake, which presently employs around 400 people.
*AREVA Resources (69.16%), Denison Mines (25.17%) and OURD Canada Co. Ltd. (5.67%).
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