Lots to keep tabs on. Little time for it until all and sundry are back to work/school.
Operation resumes at Rabbit Lake
03 January 2008
Cameco announced on 2 January that normal mining activities had been resumed following flooding in late 2007 at its Eagle Point mine in northern Saskatchewan, Canada. The company announced on 28 November that underground activities at the mine, part of the Rabbit Lake uranium operation, had been suspended as a precautionary measure when the mine experienced an increase of water flow at a time when the capacity of the surface water-handling system was also temporarily reduced due to an equipment upgrade. Cameco said that operations had resumed “well ahead of schedule”, after sealing off the source of the water inflow. An old exploration drill hole was identified as the source of the water inflow. The hole was plugged by installing an inflatable packer. Cameco said that it will install a permanent plug and grout a substantial length of the drill hole with cement to replace the inflatable packer in the next couple of weeks.
No mention of ecological issues. Hmm…what’s in the Financial Post:
Cameco resumes Rabbit Lake operations faster than expected
Uranium miner Cameco Corp. has been besieged by operational problems in the last couple of years, but there was some good news Wednesday. The company said its Rabbit Lake mine in Saskatchewan is up and running after water inflow problems forced a closure in November. That was a faster clean-up than expected.
RBC Capital Markets analyst Fraser Phillips reduced his 2008 production estimate on Cameco after the closure was first announced, and assumed no first quarter production from Rabbit Lake. But now that operations are up and running, milling operations and uranium production are expected to resume later this quarter, slightly ahead of his expectations.
Despite the company’s well-documented problems, Mr. Phillips noted that Cameco “remains the leader” in the uranium industry, with the largest and highest quality assets. “However, continuing delays and uncertainty around Cigar Lake are cause for concern.
Hmm…Cameco is not a miner, it is a corporation, but nice try NP/FP, to personalize the mega-polluting inanimate thing. Doesn’t seem to be any mention of environmental issues in this piece, either.
Will anyone report on that so we can know the full story?