Elliot Lake is a city in Algoma District, Ontario, Canada. It is north of Lake Huron, midway between the cities of Sudbury and Sault Ste. Marie in the Northern Ontario region.HistoryPrior to the settlement of the city, an Ojibwa village existed near the present hospital site on the lake's shoreline.The city was established as a planned community for the mining industry in 1955 after the discovery of uranium in the area, and named after the small lake on its northern edge. By the late 1950s, its population had grown to about 25,000. It was originally incorporated as an improvement district. Geologist Franc Joubin and American financier Joseph Hirshhorn were instrumental in its founding. The principal mining companies were Denison Mines and Rio Algom. The population has varied with several boom-and-bust cycles from the 1950s to the 1990s, from a high of over 26,000 to a low of about 6,600.In 1959, the United States declared that it would buy no more uranium from Canada after 1962. During the 1970s, federal plans for CANDU Reactors and Ontario Hydro's interest in atomic energy led the town, anticipating a population of 30,000, to expand again. However, by the early 1990s depleted reserves and low prices caused the last mines in the area to close.