Fines, sanctions and litigation
Cameco works hard to ensure the company complies with all laws, regulations and other requirements that apply to us, including transportation and customs regulations and competition and anti-trust laws.
Over the past three years, Cameco paid three significant fines related to two incidents of environmental non-compliance.
Cameco also had very minor violations of labeling requirements, with none resulting in fines or warnings from any regulator.
There were no other judicial fines or non-monetary sanctions levied against Cameco for failure to comply with any other laws or regulations during the reporting period.
GRI Indicators
SO7 – Legal action (anti-competitive behaviour)
^Outstanding Financial Performance and Governance
This indicator provides information about legal actions initiated against Cameco under national or international law designed to regulate anti-competitive behaviour and address anti-trust or monopoly practices.
This includes information about pending or completed actions and the outcomes of pending or completed actions, including any decisions or judgments.
There were no legal actions initiated against Cameo related to anti-competitive behaviour during the reporting period.
What it means
Cameco is committed to compliance with competition and anti-trust laws everywhere we operate.
SO8 – Significant fines (non-compliance)
^Outstanding Financial Performance and Governance
This indicator provides information about administrative or judicial fines and non-monetary sanctions levied against Cameco for failure to comply with laws and regulations, including:
- national, sub-national, regional, and local regulations
- international declarations, conventions or treaties.
This includes the total monetary value of significant fines and the number of non-monetary sanctions. It does not include fines or non-monetary sanctions related to environmental or labelling regulations, transportation matters and fines or sanctions we are in the process of appealing.
There were no judicial fines or non-monetary sanctions levied against Cameco for failure to comply with laws and regulations during the reporting period.
What it means
Cameco works hard to ensure that the company complies with all laws, regulations and other requirements that apply to us.
Definitions
Significant fines
Fines that exceed $50,000, paid by Cameco or a subsidiary to a government authority for failure to comply with its laws or regulations.
PR4 – Labelling non-compliance
^Outstanding Financial Performance and Governance
This indicator provides information about Cameco's failure to comply with product and dangerous goods labelling requirements defined by transport regulations and reported to regulatory agencies in Canada, the US, Australia and Kazakhstan.
| 2009 | 2010 | 2011 | |
|---|---|---|---|
| # of Incidents Total | 1 | 2 | 2 |
| # of Incidents resulting in a fine | 0 | 0 | 0 |
| # of Incidents resulting in a warning | 0 | 0 | 0 |
What it means
Over the past three years, Cameco has had only very minor violations of labelling requirements, with none resulting in fines or warnings from any regulator.
2009-10
Minor events involving:
- faded labels
- missing UN numbers
2011
Minor events involving:
- missing UN numbers
- an incorrectly labelled sample shipment
Definitions
Labelling non-compliance
The types of information that must be correctly presented on our product labels are:
- radioactive category
- subsidiary name(s)
- proper shipping name
- UN number – a number issued by the United Nations which is used to quickly identify dangerous substances for emergency response, handling and storage during transport.
- VRI code (international vehicle registration code – when applicable)
- name of consignor/consignee
- type and weight of package
PR9 – Sanctions (product non-compliance)
^Outstanding Financial Performance and Governance
This indicator provides information about monetary fines imposed by regulatory agencies for non-compliance with laws and regulations related to providing products and services (transportation and customs related fines) in Canada, the US, Australia and Kazakhstan.
There have been no fines levied against Cameco for non-compliance with transport and customs laws and regulations during the reporting period.
What it means
Cameco works hard to ensure that the company complies with all transportation and customs regulations wherever we operate.
Definitions
Provision of products
Transportation of products, on or off-site.