Key Takeaways
Cameco Corporation (TSX: CCO; NYSE: CCJ) has temporarily halted production at its Key Lake mill and reduced activities at its McArthur River mine after regional flooding in northern Saskatchewan led to the collapse of a key bridge, disrupting critical supply routes.
"Our northern Saskatchewan sites are not directly impacted by flood waters," the company said in a statement on May 11. "However, flooding has caused the collapse of the Smoothstone River Bridge, which is on the primary route we use to transport supplies to the McArthur River and Key Lake sites."
The operational pause affects two of Cameco’s major uranium sites, which are central to its position as the world's second-largest uranium producer. While the company’s nearby Cigar Lake mine continues to operate and its consolidated annual production plan for 2026 is so far unchanged, the event introduces significant logistical uncertainty. In the first quarter of 2026, Cameco reported a 7 percent year-over-year revenue increase and an 88 percent rise in earnings per share.
The timeline for resuming normal deliveries is currently unknown, and Cameco stated that a prolonged disruption could put its 2026 production outlook for the McArthur River/Key Lake operation at risk. The company, which accounted for 14 percent of global uranium production in 2025, is in contact with the Saskatchewan Ministry of Highways to resolve the supply chain issues.
This article is for informational purposes only and does not constitute investment advice.
