Cameco Corporation announced today that dewatering of the underground development of the Cigar Lake project has resumed. The inflow on the 420 metre level that forced suspension of dewatering on August 12, 2008 has been remediated by remotely placing an inflatable seal between the shaft and the source of the inflow and subsequently backfilling and sealing the entire development behind the seal with concrete and grout. The 420 level is not part of future mine plans. It is currently expected to take six to 12 months to dewater and secure the mine depending on what conditions are found in the shaft and the underground workings. Cameco owns 50% and is operator of the Cigar Lake project located in northern Saskatchewan, Canada.
Cameco Corp. (TSX:CCO) is reducing its 2008 uranium production target by one million pounds due to delays expanding some of its mines, while assuring analysts that flooding may further delay startup at Cigar Lake but won't prevent it from supplying its customers. (See Canadian Press:
Cameco cuts 2008 production target, downplays problems at Cigar Lake
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