Cameco Indicates Production Has Resumed At Inkai Joint Venture
Production has resumed at Cameco’s (TSX: CCO) Inkai joint venture in Kazakhstan. The company this morning issued a brief release, indicating that production at the venture, which is operated by Kazatomprom, has resumed.
Production at Inkai had been halted as of January 1, following the failure by the joint venture to obtain an extension to the timeline to submit updated documentation to Kazakhstan’s Ministry of Energy related to development plans. The mining halt reportedly caught Cameco by surprise, with the company stating at the time that the suspension was unexpected, with the Canadian miner seeking clarification on how the suspension even occurred.
The impact of the suspension, which lasted 26 days, is currently being determined by the two joint venture partners.
Cameco last traded at $80.34 on the TSX.
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