“The improvement we’ve seen in the global uranium market in recent months has firmed up and we believe is sustainable,” spokesperson Jeff Hryhoriw said in an email to CTV News.
According the the story, Cameco laid off some 500+ employees when it extended the shutdown of their facilities in 2018 due to the prolonged weakness in the global uranium market.
Now, the company says they will increase the number of employees and contractors to 900 in 2025 from 470 in 2021 - an increase of over 400 new jobs in Saskatchewan.
Hryhoriw went on to say "While we can’t predict the pace of the hiring ramp-up or the precise makeup of this expanded workforce at present, historically about half the workers at Cameco’s northern mines and mills have been Residents of Saskatchewan’s North, the vast majority being of Indigenous heritage."
"Cameco is presently one of Canada’s largest employers of Indigenous people – that will only increase with this announcement" he continued.
Reportedly starting in 2024, McArthur River / Key Lake will operate at 40 per cent below the annual licensed capacity and Cigar Lake will run 25 per cent below its annual licensed capacity, for a combined reduction of 33 per cent of licensed capacity at the two operations.