Cameco workers picketed outside the uranium giant's head office in Saskatoon today.

The labour dispute has led to temporary shut downs at two of the company's facilities.

On Thursday, Cameco presented the union with its final offer, which was rejected. Workers began striking on Saturday at the same time the company issued a lockout saying it was needed to properly shutdown facilities.

The union says the final offer did not address a number of issues.

The company wouldn't discuss the negotiations but stands by their final offer.

Some analysts are saying a production stoppage in these market conditions may not be as damaging to the company. They say a prolonged strike could increase prices, strengthening their share price, and offsetting any potential negative impact to Cameco's earnings.

Over 500 Cameco workers have been affected by the strike. The company has temporarily shut down its McArthur River mine and Key Lake mill. McArthur is the world's biggest uranium mine, producing around 12 percent of the world’s uranium.

With no future meetings set up between Cameco and the union, it is not clear how long this labour dispute will last.