1 Table Of Contents 2
1.1 List of Tables 6
1.2 List of Figures 7
2 Executive Summary 8
2.1 Uranium Mining Industry Scenario in Canada 8
2.2 Trends and Developments in Canada’s Uranium Mining Industry 8
3 Uranium Mining Industry in Canada 9
3.1 Overview 9
3.2 Uranium Reserves in Canada 9
3.3 Uranium Production in Canada 11
3.3.1 Canada uranium production vs. Global uranium production 11
3.3.2 Canada uranium production vs. North America uranium production 11
3.4 Major Mines in Canada 12
3.5 Uranium mining sector development 15
3.5.1 Canada’s Historical and Projected Uranium Production 15
3.5.2 McArthur River Mine 16
3.5.3 McClean Lake Mine 19
3.5.4 Rabbit Lake Mine 22
3.5.5 Cigar Lake Mine 24
3.5.6 Midwest Mine 25
3.5.7 Uranium Mines under Exploration 26
3.6 Regulatory Framework 30
3.6.1 Mining Policy 30
3.6.2 Regulations 30
4 Trends and Developments in Canada's Uranium Mining Industry 33
4.1 Key drivers, Challenges and Trends 33
4.1.1 Key drivers 33
4.1.2 Challenges 34
4.1.3 Trends 34
4.2 Canada's Uranium Mining Outlook 35
4.2.1 Investment Opportunities: Uranium mining 35
5 Key Players in Canada's Uranium Mining Industry 36
5.1 Cameco Corporation 36
5.1.1 Key Information 36
5.1.2 Company Overview 36
5.1.3 Industry Outlook – Nuclear 36
5.1.4 Business Description 37
5.1.5 Major Products and Services 38
5.1.6 Key Employees 39
5.1.7 Key Employee Biographies 39
5.1.8 Locations And Subsidiaries 41
5.2 Areva Resources Canada Inc 42
5.2.1 Company Overview 42
5.2.2 Key Information 42
5.2.3 Major Products and Services 42
5.2.4 Competitors 42
5.2.5 Key Employees 43
5.2.6 Locations And Subsidiaries 43
6 Canada, Deals, Year 2004 to YTD 2009 44
7 Recent Developments 98
7.1 New Contracts 98
7.1.1 Apr 27, 2009: Denison Announces Five Year Uranium Sales Contract 98
7.1.2 Dec 04, 2008: KRI Signs LoI With Marubeni For Dornod Uranium Mining Project 98
7.1.3 Nov 05, 2008: AREVA Receives Contract From Cameco To Supply Uranium Powder For Ontario Reactors 98
7.1.4 Jan 16, 2008: Bluerock Signs LoI With Denison For Uranium Toll Milling 98
7.1.5 Aug 21, 2007: Uranium One Signs Uranium Toll Milling Agreement With PRI 99
7.1.6 Jun 28, 2007: Crescent Resources Signs Drilling Contract With Compania Paraguaya For Oviedo Uranium Project 99
7.2 Operations Updates 99
7.2.1 May 14, 2009: JNR Resources Provides Update On Rocky Brook Project, Western Newfoundland 99
7.2.2 May 12, 2009: ESO Uranium Completes Airborne Geophysical Survey On East Athabasca Claims 99
7.2.3 May 11, 2009: Santoy Resources Announces Plans For 2009 Quebec Exploration 100
7.2.4 May 11, 2009: Kodiak Exploration Discovers Uranium Mineralized Zone With Multiple Drill Holes At West Millennium Project, Saskatchewan 100
7.2.5 May 07, 2009: Uracan Resources Reports Drilling Results On Double S Zone At North Shore Property, Quebec 100
7.2.6 May 07, 2009: Equinox Minerals To Construct Uranium Plant In Zambia 100
7.2.7 May 07, 2009: Forum Uranium Completes EM And Gravity Survey On Costco Area At Key Lake Road Project, Athabasca Basin 101
7.2.8 May 07, 2009: Pitchstone Plans Drilling On Gumboot Property, Eastern Athabasca Basin, Saskatchewan 101
7.2.9 May 05, 2009: Silver Spruce Reports 2008 Uranium Exploration Results Of Double Mer And Straits Properties, Labrador 101
7.2.10 May 05, 2009: Dios Exploration Reports Final Results For 2008 Follow-Up Program On Opinaca Nord Uranium Project, Quebec 101
7.2.11 May 01, 2009: CanAlaska Uranium Reports Drilling Results On Cree East Uranium Project, Athabasca Basin 102
7.2.12 Apr 28, 2009: Waseco Resource Provides Update On 2009 Uranium Exploration Program 102
7.2.13 Apr 22, 2009: Golden Dory Identifies Radiometric Anomalies At Burin Uranium Project, Newfoundland 102
7.2.14 Apr 22, 2009: Pacific Bay Announces Drilling Update On Ears South Uranium Prospect In Otish Mountains, Northern Quebec 102
7.2.15 Apr 20, 2009: Endeavor Explorations To Commence Phase 1 Exploration Program On Don Lake Uranium Deposit 103
7.2.16 Apr 20, 2009: Uranium North Announces Plans For Drill Program At Amer Lake Property, Nunavut 103
7.2.17 Apr 15, 2009: Hathor Exploration Extends Uranium Mineralization At Roughrider Zone 103
7.2.18 Apr 14, 2009: Abitex Resources Discovers Uranium On Epsilon Property, Quebec 103
7.2.19 Apr 30, 2009: Hathor Exploration Provides Drilling Update On Roughrider Zone At Midwest NorthEast Property, Saskatchewan 103
7.3 Financial Announcements 104
7.3.1 May 13, 2009: Aurizon Mines Reports CAD5 Million Net Earnings In Q1 2009 104
7.3.2 May 13, 2009: Mega Uranium Reports CAD2.2 Million Net Income In Q2 Fiscal 2009 104
7.3.3 May 13, 2009: Denison Reports $1.3 Million Net Loss In Q1 2009 104
7.3.4 May 11, 2009: Uranium One Reports Net Earnings Of $61.1 Million In Q1 2009 104
7.3.5 May 07, 2009: SNC-Lavalin Reports Net Income Of CAD77.5 Million In Q1 2009 105
7.3.6 May 06, 2009: Equinox Minerals Reports $60,591 Net Loss In Q1 2009 105
7.3.7 May 01, 2009: Cameco Reports CAD82 Million Net Earnings In Q1 2009 105
7.3.8 May 01, 2009: TransCanada Posts CAD334 Million Net Income In Q1 2009 105
7.3.9 Apr 27, 2009: Lexam Explorations Reports CAD2.7 Million Net Loss In 2008 105
7.3.10 Apr 23, 2009: Uranium Participation Reports Operating Expenses Of CAD5.9 Million In Fiscal 2009 106
7.3.11 Apr 08, 2009: Hydro-Quebec Reports Revenues Of CAD12.7 Billion For 2008 106
7.3.12 Apr 02, 2009: Monroe Reports CAD190,500 Net Income In 2008 106
7.3.13 Apr 01, 2009: Vena Resources Reports CAD4.8 Million Net Loss In Fiscal 2008 106
7.4 Strategy and Business Planning 107
7.4.1 Apr 03, 2009: Equinox Minerals Announces Plans For Construction Of Uranium Project At Lumwana, Zambia 107
7.4.2 Feb 23, 2009: Yellowcake Mining Receives Notification For Termination Of JV From KEPCO 107
7.4.3 Feb 04, 2009: Denison Receives Approval From BLM For Uranium Mining In Big Gypsum Valley 107
7.4.4 Jan 25, 2009: Uravan Submitts LUP Application To NIRB On Garry Lake Uranium Project 107
7.4.5 Nov 27, 2008: Majescor, Strateco Plan Winter Exploration Program And Sign Agreement For The Mistassini Uranium Property 108
7.4.6 Nov 05, 2008: Strateco Files Licence Application For Underground Exploration Program At Matoush Uranium Property 108
7.5 Government and Public Interest 108
7.5.1 May 08, 2009: Uranium Spot Price Increases Up To $49 Per Pound 108
7.5.2 Apr 30, 2009: Uranium Spot Price To Increase In 2010: Denison CEO 108
7.5.3 Apr 29, 2009: Ontario Cottage Owners Urge Government To Ban Uranium Exploration And Mining 109
7.5.4 Apr 27, 2009: Uranium Rises To 6% For Second Week 109
7.5.5 Dec 08, 2008: India To Receive Uranium Imports By April 2009 109
8 Appendix 110
8.1 Methodology 110
8.1.1 Coverage 111
8.1.2 Secondary Research 111
8.1.3 Primary Research 112
8.1.4 Forecasts 112
8.1.5 Expert Panel Validation 112
8.2 Definitions 113
8.2.1 Units of Measure 113
8.3 Contact Us 113
8.4 Disclaimer 113
1.1 List of Tables
Table 1: Canada Uranium Reserves, tU, 2000-07 10
Table 2: Uranium Production from Major Mines in Canada, tU, 2000-08 14
Table 3: Canada, Historical and Projected Uranium Production, tU, 2000-15 16
Table 4: McArthur River, Historical and Projected Uranium Production, tU, 2000-15 19
Table 5: McClean Lake, Historical and Projected Uranium Production, tU, 2000-15 22
Table 6: Rabbit Lake, Historical and Projected Uranium Production, tU, 2000-15 24
Table 7: Canada, Uranium Mines Under Exploration 27
Table 8: Cameco Corporation,Key Facts 36
Table 9: Cameco Corporation, Key Employees 39
Table 10: Cameco Corporation, Subsidiaries 41
Table 11: AREVA Resources Canada Inc.,Key Facts 42
Table 12: AREVA Resources Canada Inc., Key Employees 43
Table 13: Canada, Deals, Year 2004 to YTD 2009 45
1.2 List of Figures
Figure 1: Canada Uranium Reserves, tU, 2000-07 9
Figure 2: Canada’s Percentage Contribution of Uranium Reserves, World & North America, 2007 10
Figure 3: Canada Uranium Production Vs. Global Uranium Production, 2007 11
Figure 4: Canada Uranium Production Vs. North America Uranium Production, 2007 12
Figure 5: Canada, Major Mines Uranium Production, Percentage Share, 2008 13
Figure 6: Uranium Production from Major Mines in Canada, tU, 2000-08 14
Figure 7: Canada, Historical and Projected Uranium Production, tU, 2000-15 15
Figure 8: Canada, McArthur River Mine Ownership 17
Figure 9: McArthur River, Historical and Projected Uranium Production, tU, 2000-15 18
Figure 10: Canada, McClean Lake Mine Ownership 20
Figure 11: McClean Lake, Historical and Projected Uranium Production, tU, 2000-15 21
Figure 12: Rabbit Lake, Historical and Projected Uranium Production, tU, 2000-15 23
Figure 13: Cigar Lake Mine, Ownership 25
Figure 14: Midwest Mine, Ownership 26
Figure 15: Canada, Deals, Year 2004 to 2009 44
Figure 16: GlobalData Methodology 110
