Cameco, one of the world’s largest uranium producers accounting
for almost 14% of world production from its mines in Canada, the
US and Kazakhstan, is positioning itself to meet growing demand
for uranium, and Western Australia is a big part of its plans for
the future.
Cameco entered the Australian market in 1996 and has a long
and proud history of responsible exploration. However, it was the
acquisition of two of Western Australia’s largest uranium projects,
Kintyre in 2008 and Yeelirrie in 2012, which has solidified
Cameco’s presence in Australia.
Cameco Australia Managing Director Brian Reilly says
Australia is home to the world’s largest known uranium reserves,
and as such warrants a strong focus from the company.
“
With our strength in Canada, a leading position in the US and
the advancing of projects in Kazakhstan, Australia is where we
believe we need to be to diversify our portfolio,” said Mr Reilly.
Although current market conditions remain challenging
for the uranium industry, Cameco is confident in the long-term
fundamentals and expects consumption of uranium to increase
over the next decade.
“
We are seeing strong reactor growth around the world, as
countries with rapidly developing economies seek alternative
sources of clean energy and advance their plans to use nuclear
power as part of their energy mix,” Mr Reilly says.
“
With projects being put on the back burner and finite secondary
sources diminishing, increased demand from new reactors will
need to be met by increasing uranium supply. Cameco is well
positioned to meet the growing demand for uranium and we are
advancing our projects at a pace that will allow us to be the first
to respond when the market signals new production is needed.”
Cameco continues to place an emphasis on safe, efficient and
profitable growth.
“
We are moving both of our Western Australian projects,
Kintyre and Yeelirrie, through our stage gate process at a pace
aligned with market conditions,” Mr Reilly said.
“
We have made significant progress on the Kintyre project
over the last four years, completing the prefeasibility and value
engineering studies, carrying out an extensive exploration drilling
program and signing an Indigenous land use agreement with
traditional owners, the Martu. We are continuing to advance the
project through the environmental approvals process, building
strong relationships with stakeholders and exploring to identify
Despite current softness in uranium demand, Cameco
remains assured that the world’s energy needs will continue
to grow. The company is making sure it is placed to meet any
mounting calls for the resource, and is advancing its projects
at a pace that will allow Cameco to be the first to respond
when the market indicates new production is needed. To
explain this further is Cameco’s Australian head, Brian Reilly
.
Forward
focused
Cameco’s future plans
Brian Reilly
Managing Director
Cameco Australia
We are seeing strong reactor
growth around the world,
as countries with rapidly
developing economies seek
alternative sources of clean
energy and advance their
plans to use nuclear power
as part of their energy mix.
Kintyre camp – located in the East Pilbara
region, approximately 60 kilometres south of
Telfer and 260 kilometres north-east of Newman
Minesite 2013
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