Cameco Corporation engages in the production of uranium worldwide. The company has three main subsidiaries, including Cameco Europe Ltd., a Swiss company it has 100% ownership of through subsidiaries; NUKEM Investments GmbH, a German company it has 100% ownership of through subsidiaries; and Joint Venture Inkai Limited Liability Partnership (Inkai), a limited liability partnership in Kazakhstan, which it owns a 60% interest in. The company also owns NUKEM GmbH (NUKEM). Segments The company’s segments include Uranium, Fuel Services, and NUKEM. Uranium This segment’s primary product includes uranium concentrates. This segment’s operating properties include McArthur River and Key Lake, Saskatchewan; Cigar Lake, Saskatchewan; Rabbit Lake, Saskatchewan; Smith Ranch-Highland, Wyoming; Crow Butte, Nebraska; and Inkai, Kazakhstan. This segment’s projects under evaluation include Inkai blocks 1 and 2 production increase, Kazakhstan; Inkai block 3, Kazakhstan; Millennium, Saskatchewan; Yeelirrie, Australia; and Kintyre, Australia. This segment’s global exploration is focused on three continents; and approximately 1.7 million hectares of land. The company has approximately 429 million pounds proven and probable. McArthur River/Key Lake: McArthur River is a uranium mine. Key Lake is a uranium mill. The company has 69.805% interest in McArthur River and 83.33% interest in Key Lake projects. Rabbit Lake: The Rabbit Lake operation is an operating uranium production facility in North America and a uranium mill. The company owns 100% of Rabbit Lake. Smith Ranch-Highland: The company operates Smith Ranch and Highland as a combined operation. Each has its own processing facility, and the Smith Ranch central plant processes all the uranium, including uranium from satellite facilities. Crow Butte: Crow Butte is a uranium mine in Nebraska. The company owns 100% of Crow Butte through a wholly owned subsidiary. Inkai: Inkai is a uranium deposit located in Kazakhstan. There are two production areas (blocks 1 and 2) and an exploration area (block 3). The operator is Inkai, which the company jointly owns (60%) with Kazatomprom (40%). Inkai is one of the company’s three material uranium properties. The Inkai mine is located in the Suzak District of South Kazakhstan Oblast, Kazakhstan near the town of Taikonur, 370 kilometers north of the city of Shymkent and 125 kilometers east of the city of Kyzl-Orda. Cigar Lake: Cigar Lake is a uranium deposit. The company is a 50% owner and the mine operator. Cigar Lake is located near Waterbury Lake approximately 660 kilometers north of Saskatoon. Kintyre: Kintyre is a uranium deposit. The company owns 70% and is the operator. Fuel Services This segment operates as an integrated uranium fuel supplier offering refining, conversion, and fuel manufacturing services. This segment’s products include uranium trioxide; uranium hexafluoride; uranium dioxide; and fuel bundles, reactor components and monitoring equipment used by CANDU reactors. The company’s operations include Blind River refinery, Ontario; Port Hope conversion facility, Ontario; and Cameco Fuel Manufacturing Inc., Ontario (manufactures fuel bundles and reactor components). NUKEM This segment offers uranium and uranium-related products. This segment’s activities include physical trading uranium concentrates, conversion and enrichment services through back-to-back purchase and sales transactions; and recovery of natural and enriched non-standard uranium from western facilities and other sources. Investments The company has 24% interest in Global Laser Enrichment in North Carolina, with General Electric (51%) and Hitachi Ltd. (25%). Strategy The company’s strategy remains focused on taking advantage of the long-term growth it sees coming in its industry, while maintaining the ability to respond to market conditions as they evolve. Marketing The company sells uranium and fuel services to nuclear utilities in Belgium, Canada, China, Finland, France, Germany, Japan, South Korea, Spain, Sweden, Taiwan, and the United States. The company is a supplier of uranium dioxide to CANDU reactors operated in Canada. NUKEM’s main customers are commercial nuclear power plants using enriched uranium fuel, typically large utilities that are either government-owned or large-scale utilities with multi-billion market capitalization and credit ratings. NUKEM also trades with converters, enrichers, other traders and investors. NUKEM has uranium and uranium-related products under contract until 2022. History Cameco Corporation was founded in 1987. The company was incorporated under the Canada Business Corporations Act in 1987.
cameco corp (CCJ:New York)
2121-11th Street West
Saskatoon, SK S7M 1J3
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