Economic impact
Cameco is a major economic contributor everywhere we operate, both directly through things like salaries, wages, and local procurement, and indirectly through secondary employment and secondary economic activity.
In Northern Saskatchewan, for example, Cameco's operations are responsible, directly and indirectly, for 12.2% of the employment in the region. In Nebraska and Wyoming, for every uranium job in the mining sector, there are 1.6-1.8 other jobs created elsewhere in the economies of those states. And in Northumberland County (Ontario, Canada) every dollar spent by Cameco in purchasing supplies or hiring a local tradesman generates $1.10 of additional revenue for other businesses in the area.
Providing jobs and opportunity
Our five-pillar CSR strategy includes not only community investment – donations to fund infrastructure projects and other good works in local communities – but also workforce and business development. These investments have an immediate, short-term impact and they also build a foundation for economic wellbeing that can outlive our operations.
Like many businesses in the natural resources sector, Cameco must compete for skilled workers as well as for the mineral reserves and resources we depend on.
The need to find and develop the skills we need and to source materials locally as much as possible, benefits many small communities where business and employment opportunities are limited. In 2011, over 50% of the employees at our northern Saskatchewan mines were local residents, and we have successfully increased the number of northerners we've hired by 65% over the last seven years.
We are also providing career development opportunities to high-potential residents of northern Saskatchewan, to allow more northerners to move into senior management roles in the future.
About our Northern Preferred Supplier Program
Through our Northern Preferred Supplier Program, we have purchased over $1 billion in goods and services from local vendors and suppliers in northern Saskatchewan since 2004.
In 2011, we had a record setting year, paying over $390 million to northern businesses, who provided 74% of all services to our northern mines. Local sourcing is also prevalent at our operations in Ontario and Kazakhstan.
Investing in communities
We target community donations and investments in four areas that are key to community health and wellbeing:
- youth
- health and wellness
- education and literacy
- culture and recreation
We believe investments in these areas are likely to generate both short and long-term gains for community members.
Although we don't specifically target infrastructure investments, Cameco receives many requests to support infrastructure projects because the smaller, remote communities near our operations often have infrastructure deficits.
Where appropriate, we support requests to build, expand or improve schools, libraries, community and recreation centres, hospitals and clinics, and facilities for seniors, among others.