Cameco – Nuclear Fuel & Uranium Producer

Cameco Corporation (Stock Symbols – NYSE: CCJ, TSX: CCO) is the second-largest global uranium producer providing the fuel for carbon-free, reliable baseload power for the world. It’s business spans the nuclear fuel cycle from uranium exploration to nuclear fuel manufacturing.

Cameco Corp’s operations include uranium and fuel services. The uranium segment involves exploring, mining, milling, purchasing, and selling uranium concentrate.

Cameco’s Canadian uranium joint operation interests include McArthur River, Key Lake, Rabbit Lake and Cigar Lake. Cameco is not only a Canadian uranium producer, but is also an American uranium producer with ISR processing at Crow Butte and Smith Ranch-Highland.

The fuel services segment involves the refining, conversion, and fabrication of uranium concentrate, and the purchase and sale of conversion services. The fuel services segment also offers a variety of products and services to meet consumption demand, including uranium trioxide (UO3), uranium hexafluoride (UF6), and uranium dioxide (UO2). As you can see, the company provides the nuclear fuel needed to energize a clean air world.

Cameco’s largest uranium mine is the world’s largest high-grade MacArthur River mine, approximately 385 miles north of Saskatoon, Canada.

McArthur River Uranium Mine
Photo of MacArthur River Mine from

Discovered in the Athabasca Basin’s eastern side in 1988, MacArthur River became the largest producing long term mine in Canada by 2012. The mine had an annual production which met 13% of global uranium needs for nuclear power plants. This mine has about 274 million pounds of proven and probable uranium at an average grade of 6.9%. Cameco’s ownership of this mine is approximately 70%.

The company has many more mines that it owns and operates. One of these mines is the extremely high-grade Cigar Lake mine with approximately 86 million proven and probably pounds of uranium. The mine has an average grade of 14.6%. The company owns about 50% of the Cigar Lake mine.

Cameco has been doing many things to create a strengthened balance sheet as a result of lower prices and COVID, including placing mines on care and maintenance.

This global company operates in 6 countries and employs about 2,200. They founded in 1988 after a merger of Eldorado Nuclear Limited and Saskatchewan Mining Development Corporation. Its name is an abbreviated version of its original name of Canadian Mining and Energy Corporation.

Cameco’s headquarters is in Saskatoon, Saskatchewan, Canada.

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Cameco's Alice Wong is one of this year's @CatalystInc Honours Champions. The awards recognize leaders who have made transformational contributions to advancing women and championing inclusion in the workplace. Thanks for your leadership, Alice!

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