Cigar Lake is a very cool mine. It is a very cool deposit. Cameco operates two of the largest high-grade uranium mines in the world at Cigar Lake and McArthur River. Together there are roughly around 30 million pounds a year of production out of those two mines.
We're a trading nation, so we need to trade that uranium around the world. It is a global supply system. Canada is the second-largest uranium producer in the world. Countries around the world rely on us. Do we need to keep it for ourselves? We have more than enough supply to service all of the reactors that we hope to build, that Sam hopes to build, and that GE Vernova hopes to build. That won't be an issue.
What we need to try to understand is that as global demand for uranium increases, we predict that by the mid-2030s we're going to start to see more demand. How are we going to meet it? What do we need to do to make sure that we have uranium mines coming online when that demand hits the market? We don't want to front-run that demand because it destroys the value of the resource, but we want to make sure that resource is available when that demand starts to hit.
Even here in Canada, Ontario is talking about building somewhere in the neighbourhood of 10 to 12 large nuclear reactors, coming online starting in the mid-2030s. We will project out to make sure that there is enough uranium supply available to meet that demand.