Cameco Fuel Manufacturing Inc. (CFM)
CFM produces fuel bundles and reactor components for CANDU reactors.
| Location | Ontario, Canada |
| Ownership | 100% |
| End product | CANDU fuel bundles and components |
| ISO certification | ISO 9001 certified, ISO 14001 certified |
| Licensed capacity | 1.2 million kgU as UO2 as finished bundles |
| Licence term | Through February, 2022 |
| Estimated decommissioning cost | $20 million |
2014 update
Production
Fuel services produced 11.6 million kgU, lower than our plan at the beginning of the year and 22% lower than 2013. This was a result of a decision to decrease production in response to weak market conditions.
Port Hope conversion facility cleanup and modernization (Vision in Motion)
The Vision in Motion project entered the feasibility stage in late 2014. We will continue with the CNSC licensing process in 2015, which is required to advance the project.
Springfields toll milling agreement
In 2014, amid the continued weak market for UF6 conversion, we paid $18 million to SFL to permit early termination of our toll-conversion agreement. Production for Cameco at the Springfields facility in the United Kingdom ceased on August 31, 2014, and the agreement ended December 31, 2014.
Planning for the future
Production
We have decreased our production target for 2015 to between 9 million and 10 million kgU in response to weak market conditions.
Labour relations
The current collective bargaining agreement for our unionized employees at CFM expires on June 1, 2015. We will commence the bargaining process in early 2015.
Managing our risks
We also manage the risks listed here.