Cameco (CCJ), Orano to Acquire TEPCO Resources’ Stake in Cigar Lake JV
Key takeaways
- On June 1, Cameco and Orano Canada agreed to acquire TEPCO Resources’ 5% interest in the Cigar Lake JV.
- CEO Tim Gitzel described Cigar Lake as a tier-one asset essential to the company’s strategy of supporting global nuclear energy expansion.
- The Cigar Lake mine currently holds significant reserves, with proven and probable estimates of 172.4 million pounds of U3O8.
Cameco (CCJ), Orano to Acquire TEPCO Resources’ Stake in Cigar Lake JV Maham Fatima Thu, June 11, 2026 at 10:15 PM GMT+7 2 min read CCJ Cameco Corporation (NYSE:CCJ) is one of the best Canadian stocks to invest in according to billionaires. On June 1, Cameco and Orano Canada agreed to acquire TEPCO Resources’ 5% interest in the Cigar Lake JV. Upon closing, expected in Q3 2026, Cameco’s ownership in the uranium mine will increase to 57.418%, while Orano’s stake will rise to 42.582%. Cameco is paying ~$115.75 million for its portion of the acquisition, subject to standard closing adjustments.
CEO Tim Gitzel described Cigar Lake as a tier-one asset essential to the company’s strategy of supporting global nuclear energy expansion. The mine, which features high-grade uranium ore, is supported by strong partnerships with neighboring Indigenous communities that provide critical labor and supply chain contributions.
The Cigar Lake mine currently holds significant reserves, with proven and probable estimates of 172.4 million pounds of U3O8. Cameco Corporation (NYSE:CCJ) maintains a 2026 production outlook of 17.5 to 18 million pounds on a 100% basis. Development activities remain focused on the current mining area and the Cigar Lake extension project, which is designed to extend the mine’s operational life until 2036.