Resources Quarterly - WINTER 2013 - page 29

Resources Quarterly
| WINTER 2013 | 29
that we know of are located in the Basin – deposits
like Cameco’s producing McArthur River Mine and
their Cigar Lake deposit, which are on the eastern
side of the Basin. The grades can range from 15 to
20 per cent U3O8,” explains Trimble.
Worldwide, the largest producer of uranium is
Kazakhstan, however the average grades of the
deposits there are much lower. The world average
is only 0.08 – 0.10 percent U3O8. Other locations
rich in uranium deposits include Namibia, Australia
and the United States. Their average grades are
also lower which impacts the economics of mining
these deposits, especially in a lower uranium price
environment.
Uranium was first discovered in Saskatchewan
back in the 1940s. Demand for uranium in the
1950s, 60s and 70s increased due to the buildup of
nuclear weapons.
“There was pent up demand back then for ura-
nium as a result of nuclear weapon proliferation.
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