A suspension of operations that began in January and was to last 10 months has now been extended indefinitely, meaning hundreds of job losses.
Saskatoon-based Cameco reported net losses of $76-million and adjusted net loses of $28-million in its second quarter report, leading to what President and CEO Tim Gitzel calls a difficult decision to permanently lay off approximately 550 employees at the McArthur River and Key Lake sites and laying off another 150 positions at its head office in Saskatoon.
Minister of Energy and Resources, Bronwyn Eyre says Saskatchewan’s Rapid Response Team will be reaching out to Cameco to offer assistance to the employees that are impacted by this decision.
Around 200 employees will remain at the McArthur River and Key Lake sites to keep the facilities in a state of safe care and maintenance.