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Cameco Corporation
Type Public (TSXCCO) (NYSE: CCJ)
Founded 1988
Headquarters Canada Saskatoon, Saskatchewan
Key people Gerald Grandey - President and CEO, Victor Zaleschuk - Chairman
Industry Mining, Energy
Products Uranium, Electricity
Revenue $2.86 billion CAD (2008)[1]
Employees 1,636 (2008)[2]
Website http://www.cameco.com/

Cameco Corporation (TSXCCO, NYSECCJ) is the world's largest publicly traded uranium company, based in Saskatoon, Saskatchewan. In 2008, it was the world's second largest uranium producer, accounting for 15% of world production.[3]

Contents

History

"Cameco - A Canadian Mining and Energy Corporation" was formed in 1988 by the merger and privatization of two crown corporations: the federally owned Eldorado Nuclear Limited (known previously as Eldorado Mining and Refining Limited) and Saskatchewan-based Saskatchewan Mining Development Corporation (SMDC). The name was later shortened to "Cameco Corporation".

The new company was initially owned 62% by the provincial government and 38% by the federal government. The initial public offering (IPO) for 20% of the company was conducted in July, 1991. Government ownership of the company decreased over the next 9 years, with full privatization occurring in February, 2002.

In 1996, Cameco acquired Power Resources Inc., the largest uranium producer in the United States. This was followed in 1998 by the acquisition of Canadian-based Uranerz Exploration and Mining Limited and Uranerz U.S.A., Inc.

Operations

Head office
Head office

Cameco operates several uranium mines in North America and Kazakhstan, including McArthur River, the world's largest high grade uranium deposit and mine, and Cigar Lake, the world's largest undeveloped high grade uranium deposit, both in Saskatchewan. Other operations in Saskatchewan include a mine and mill at Rabbit Lake and a mill at Key Lake.

In the United States, Cameco operates uranium mines in the states of Nebraska and Wyoming through its US subsidiary Cameco Resources Inc. Cameco Resources was formed in 2007 through a restructuring of two wholly owned subsidiaries, Power Resources Inc. (Wyoming) and Crowe Butte Resources Inc. (Nebraska).

In the province of Ontario, Cameco operates a uranium refinery in Blind River and a uranium conversion facility in Port Hope, which has faced opposition from some community groups.[4][5] Through the Bruce Power Limited Partnership (BPLP), Cameco also participates in nuclear power generation in the province.

In 2004, Cameco spun off its gold mining operations in Kyrgyzstan, Mongolia and the USA to a newly formed public company, Centerra Gold. Cameco currently owns approx. 53% of Centerra's shares.

Mines
Producing
Name Location
McArthur River Saskatchewan, Canada
Eagle Point (Rabbit Lake) Saskatchewan, Canada
Smith Ranch-Highland Wyoming, United States
Crow Butte Nebraska, United States
In Development
Cigar lake Saskatchewan, Canada
Inkai Kazakhstan
Mills
Name Location
Key Lake Saskatchewan, Canada
Rabbit Lake Saskatchewan, Canada
Fuel Production
Name Location
Port Hope Refinery Ontario, Canada
Blind River conversion facility Ontario, Canada
Power Generation
Name Location
Bruce Power Ontario, Canada

Corporate governance

Current members of the board of directors of Cameco Corporation are:

See also

References

External links

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