Scope and boundary
Scope
This online report tells you about our sustainability and corporate responsibility practices and performance since we last reported in 2010. The indicators in this report are not comparable to the indicators in our last sustainable development report, because we have transitioned from reporting using corporate indicators to reporting using the GRI framework and indicators. Cameco is committed to reporting in this area every two years.
You can download a full or partial copy of our sustainable development report to view or print, or download and print our executive summary.
Unless otherwise indicated, this report has been prepared as of June 2012 and has not been updated since that time. This report has not been independently assured.
Boundary
This report focuses on performance at all Cameco-owned global uranium mining and milling operations and our refining, conversion and fuel manufacturing operations. It does not include performance related to our ownership in nuclear fuel enrichment development or electricity generation. It does not include any assessment of the performance of associated companies or non-operated joint ventures.
We collect quantitative data for all in-scope operations, except where the indicator is for a specific operation or geographic region (like public support polling) or where data is not yet available for an operation or region. Most data is collected by calendar year.
Limits to our current reporting
While we have attempted to create a report that touches all aspects of our company, certain parts of our operations are not reported on in every indicator. We do not currently include our exploration activities in our environmental data. We also have limited reporting about Kazakhstan because employees at that site are not under the auspices of Cameco. For each GRI indicator, we have tried to be as specific as possible about which aspects are included and which are not.
GRI reporting level
Cameco is committed to reporting to the GRI 3.1 reporting standards and the G3 Mining and Metals Supplement. We have included the 3.1 standard disclosures on company profile and management approach in this report, and we have selected 31 GRI 3.1 and Mining and Metals Supplement indicators to report on.
We are self-reporting to a GRI B-level.
Caution about Forward-Looking Information
Statements contained in this report include statements and information about our expectations for the future. When we discuss our strategy, plans and future financial and operating performance, or other things that have not yet taken place, we are making statements considered to be forward-looking information or forward-looking statements under Canadian and US securities laws. These include our statements about the future of nuclear energy, uranium supply and demand, and about our plans to increase annual uranium production to 40 million pounds by 2018. They also include other statements using other words such as plan, expect, anticipate, goal, outlook, ensure, could and will. They represent our current views as of June 15, 2012 and can change significantly.
Forward-looking information is designed to help you understand management's current views of our near and longer-term prospects, and it may not be appropriate for other purposes. We will not necessarily update this information unless we are required to by securities laws. Actual results and events may be significantly different from what we currently expect, because of the risks associated with our business. This information is based upon a number of material assumptions, which may prove to be incorrect, and is subject to a number of material risks, which are discussed in our current annual management discussion and analysis, including under the heading Caution about Forward-Looking Information.
In particular, we have made assumptions about demand for uranium, our expected production level and production costs, the reliability of our mineral reserve and resource estimates, the geological, hydrological, and other conditions at our mines and our ability to continue operations without any significant disruptions due to accidents or other development or operating risks. The material risks that could prevent us from reaching our production target for 2018 including risks that actual market prices are lower than we expect; production costs are higher than planned; our mineral reserve and resource estimates are not reliable; or we face unexpected or challenging conditions; or our operations are disrupted for any reason. We are also subject to the risk that we are affected by changes in the regulation or public perception of the safety of nuclear power, which adversely affect the demand for uranium and future prospects for nuclear energy.