SASKATOON, Saskatchewan, June 01, 2026 (GLOBE NEWSWIRE) -- Orano Canada Inc. (Orano Canada) and Cameco Corporation (Cameco) have reached an agreement to jointly acquire TEPCO Resources Inc. (TEPCO) 5% ownership in the Cigar Lake Joint Venture. Orano is pleased to announce that, upon closing, this transaction will increase its share by 2.129% to a total of 42.582% of the joint venture. Cameco’s ownership will also rise to a total of 57.418%.
“This agreement reflects the strength of our long-term relationship with Cameco and our shared commitment to supporting energy security through reliable, low-carbon nuclear energy. At Orano, we remain focused on investment and operational excellence in support of our customers worldwide,” said Xavier Saint Martin Tillet, Senior Executive Vice President, Orano Mining Business Unit.
“We are pleased to increase Orano’s ownership stake in the Cigar Lake mine,” said Pascal Bastien, President and CEO, Orano Canada. “This investment reflects our long-term confidence in Saskatchewan and its importance to Orano’s future growth in the global nuclear fuel cycle. We thank our long-standing partner, TEPCO, for its contribution to this operation over many years. Together with Cameco, we remain committed to the safe and reliable operation of the Cigar Lake mine and McClean Lake mill, while continuing to support our employees and the communities where we operate.”
