TSX-listed Cameco will be in discussions with uranium major Kazatomprom – its joint venture (JV) partner at the Inkai mine – to determine how that company’s announcement of reduced operational activities across its mines will impact on Cameco’s purchases.
Kazatomprom’s decision could reduce Inkai’s 2020 production by up to 12%, which Cameco said on Tuesday translated into a reduction in its 2020 purchases from the JV of up to 600 000 lb of U3O8. Prior to the announcement, Cameco expected to purchase 4.9-million pounds of U3O8 in 2020.