McArthur River / Key Lake — uranium mine
Data compiled from public filings — information only, not investment advice. AI‑assisted; see methodology.
Project information
As at 31 December 2025
Description
As at 31 December 2025
World's largest high-grade uranium mine (McArthur River, ownership 69.805%) and the world's largest uranium mill (Key Lake, 83.33%) — both Cameco-operated. Blasthole stoping and raiseboring across seven zones (zones 2 and 4 active; zone 1 significantly advanced; zone 4 South in mid-development). Ore is ground and blended to a nominal 5% U3O8 mill feed at Key Lake. Licence term through October 2043; estimated mine life to 2044. 2025 production beat the revised 14-15 Mlb (100%) target at 15.1 Mlb via alternative-feed substitution; extended Key Lake maintenance shutdown planned for Q3 2026. Cumulative Key Lake-only production 1983-2002: 209.8 Mlb. Estimated decommissioning: $51.4M McArthur River, $276.7M Key Lake (100% basis). NI 43-101 technical report dated March 29, 2019.
Mining metrics
As at 31 December 2025 · exclusive
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Reserves & resources — detail
As at 31 December 2025
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Royalties & streams
All royalty and stream interests in the database that refer to this asset by name.
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