Cameco Corporation produced an attributable 6.2 million pounds of uranium in the first quarter of 2026, up 3% from the same period a year earlier. Production from McArthur River and Key Lake reached 3.5 million pounds, while Cigar Lake contributed 2.7 million pounds.
Higher production at McArthur River and Key Lake offset weaker output at Cigar Lake. This helped Cameco deliver year-on-year growth despite mixed performance across its main assets.
Cameco expects its attributable production from McArthur River and Key Lake to reach between 10 million and 11.5 million pounds in 2026. Cigar Lake is expected to contribute between 9.5 million and 10 million pounds.
Cameco’s decision to maintain guidance suggests it still expects to recover lost activity or manage the disruption within its existing production plan.
Ur-Energy also reported stronger production during the first quarter of 2026. The company operates the Lost Creek project in south-central Wyoming, which has annual production capacity of 1.2 million pounds.
Ur-Energy captured 110,314 pounds of uranium during the quarter, an increase of 48% from the previous year. The improvement reflected stronger flow rates following plant modifications and repairs.
The company dried and packaged 95,599 pounds and shipped 103,956 pounds during the quarter. These figures show that higher uranium capture was also moving through later stages of production and delivery.
Ur-Energy continued to increase output in April 2026, when it drummed 57,479 pounds of uranium. This was its highest monthly total since the company decided to restart and ramp up production in 2023.
The April result indicates that recent operational changes are supporting higher production rates. Continued progress would strengthen Ur-Energy’s ability to use more of Lost Creek’s available capacity and improve the reliability of its production profile.
Geiger Counter Limited (LON:GCL) is a Jersey closed-end investment company, which invests in uranium exploration and production stocks.
