Uranium Projects

Overview

Cameco's uranium projects are properties that may be developed into uranium-producing operations at some point in the future. The most significant are the Millennium deposit in the Athabasca Basin of Saskatchewan and the Yeelirrie and Kintyre deposits in Australia. Our global exploration activity is adjusted annually in line with market signals and at a pace aligned and Cameco’s mining plans and sourcing needs. In recent years, exploration spending has increased in response to the significant, positive momentum in the nuclear fuel market which has provided a clear signal that more uranium production will be required in the next decade and beyond.

Our stage-gate process includes several defined decision points in the assessment and development stages. At each point, we re-evaluate the project based on current economic, competitive, social, legal, political and environmental considerations. If a project continues to meet our criteria, we proceed to the next stage. This process allows us to build a pipeline of projects ready for a production decision and minimize expenditures on projects whose feasibility has not yet been determined.

Investments

Cameco's reputation as an industry leader with expertise in mining and exploration make us an attractive partner for uranium ventures around the world. We lever this position by entering into strategic alliances and joint ventures with other companies that hold high-quality exploration and development projects. Our strategic alliances typically involve investments in publicly listed or private companies with promising exploration lands. In return for these investments, Cameco seeks to obtain rights to expand its ownership to control development of resulting discoveries. Through strategic alliances and joint ventures, we greatly expand the potential return of our investment in uranium exploration and the geographical reach of our technical and financial resources.

Millennium

The Cree Extension-Millennium project is a Cameco-operated joint venture located in the southeastern portion of Canada's Athabasca Basin. It is approximately 35 km north of Cameco's Key Lake operation.

Yeelirrie

Yeelirrie is one of Australia's largest undeveloped uranium deposits. The deposit is located approximately 650 km northeast of Perth and approximately 750 km south of Cameco's Kintyre project.