Cameco Corporation announced the planned restart for the McArthur River mine and Key Lake mill starting in 2022. As a major partner in these operations, Orano owns 30.2% of McArthur River and 16.7% of Key Lake and will benefit by gaining access to another source of production to satisfy customer commitments. The production forecast for McArthur River and Key Lake operations in 2022 is five million pounds, taking into account potential operating risks due to a variety of factors.

Partner Cameco will remain focused on mitigating these risks and updating the forecast on a quarterly basis. By 2024 it is expected that the McArthur River/Key Lake operations will produce 15 million pounds (100% basis) per year, and at that time Cigar Lake will reduce its planned production to 13.5 million pounds (100% basis). The common revised production plan agreed to by all partners in the Cigar Lake Joint Venture agreement is intended to extend the mine life of the Cigar Lake operation allowing for a continuous supply of ore for the McClean Lake operation.