UEX Corp T.UEX

More Good News for Cameco

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CNSC Announces Decision to Issue a Uranium Mine Construction Licence for surface construction at Cameco’s Cigar Lake Uranium Mine Project in Northern Saskatchewan FOR IMMEDIATE RELEASE July 21, 2004 Following a public hearing held on July 7, 2004, the Canadian Nuclear Safety Commission (CNSC) announced its decision to issue a Uranium Mine Construction Licence to Cameco Corporation (Cameco) for the construction of specific surface facilities at the Cigar Lake Uranium Mine Project located in northern Saskatchewan. The licence is valid until January 31, 2005. Cameco has applied to the CNSC for approval to construct and modify both the surface and underground facilities at its Cigar Lake Uranium Mine Project in order to bring the mine into commercial operation. In an update to that application, Cameco sought approval to construct certain of the surface facilities at the project site prior to the Commission deciding on Cameco’s application for the full construction project. Also on July 7, 2004, the Commission held the first day of a two-day public hearing on Cameco’s application for the full construction licence.The second day of the hearing on the full construction project will be held on November 17, 2004.The Commission is satisfied that, in the event that the full construction project is not approved, Cameco would remove the surface facilities in a timely and safe manner. During the public hearing on the surface construction project, the Commission considered written submissions and oral presentations from Cameco and CNSC staff. There were no intervenors.The Commission concluded that Cameco is qualified to carry on the activity that the licence will authorize and in carrying on that activity, will make adequate provision for the protection of the environment, the health and safety of persons and the maintenance of national security and measures required to implement international obligations to which Canada has agreed. A Record of Proceedings, including the Reasons for Decision and transcripts of the hearing are available on the CNSC web-site at www.nuclearsafety.gc.ca, or by contacting the CNSC.