Cameco (CCJ), Orano to Acquire TEPCO Resources’ Stake in Cigar Lake JV

1 hour ago 2

Maham Fatima

Thu, June 11, 2026 astatine 10:15 AM CDT 2 min read

Cameco Corporation (NYSE:CCJ) is 1 of the best Canadian stocks to put successful according to billionaires. On June 1, Cameco and Orano Canada agreed to get TEPCO Resources' 5% involvement successful the Cigar Lake JV. Upon closing, expected successful Q3 2026, Cameco's ownership successful the uranium excavation volition summation to 57.418%, portion Orano's involvement volition emergence to 42.582%. Cameco is paying ~$115.75 cardinal for its information of the acquisition, taxable to modular closing adjustments.

CEO Tim Gitzel described Cigar Lake arsenic a tier-one plus indispensable to the company's strategy of supporting planetary atomic vigor expansion. The mine, which features high-grade uranium ore, is supported by beardown partnerships with neighboring Indigenous communities that supply captious labour and proviso concatenation contributions.

The Cigar Lake excavation presently holds important reserves, with proven and probable estimates of 172.4 cardinal pounds of U3O8. Cameco Corporation (NYSE:CCJ) maintains a 2026 accumulation outlook of 17.5 to 18 cardinal pounds connected a 100% basis. Development activities stay focused connected the existent mining country and the Cigar Lake hold project, which is designed to widen the mine's operational beingness until 2036.

Cameco (CCJ), Orano to Acquire TEPCO Resources' Stake successful Cigar Lake JV

Photo by mitchel-willem-jacob-anneveldt connected Unsplash

Cameco Corporation (NYSE:CCJ) operates globally, producing uranium and atomic substance products for the procreation of clean, safe, and reliable electricity.

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