Our Current Report

Cameco is one of the largest global providers of the fuel needed to energize a clean-air world. Our tier-one operations have the licensed capacity to produce more than 53 million pounds (100% basis) of uranium concentrates annually, backed by 461 million pounds of proven and probable mineral reserves (our share). We are also a leading supplier of uranium refining, conversion and fuel manufacturing services. Utilities around the world rely on our nuclear fuel products to generate power in safe, reliable, carbon-free nuclear reactors. Together, we are meeting the ever-increasing demand for clean baseload electricity while delivering safe, reliable solutions to today’s clean-air crisis.

When measuring the sustainability and ethical impact of a company, environmental, social and governance (ESG) are key factors considered by the public and investors. Sustainability and ESG matters have been an important focus at Cameco for many years and we have a strong performance record. Cameco began using the Global Reporting Initiative (GRI) 4.0 Sustainability Guidelines in our sustainability programming and reporting in 2016. Our reporting shows Cameco’s performance on 32 key GRI indicators, as well as two corporate indicators that are unique to the company. This update provides reporting on 2019 data indicators compared to 2018.

Despite weak market conditions, Cameco continues to hold safety of our workforce and the public, social responsibility, and protection of the environment as top priorities.

Some of the highlights of our 2019 performance include:

  • A continued focus on community development through local spending with almost 85% procured from local northern Saskatchewan suppliers.
  • Strong community relationships demonstrated by sustained high levels of public support in locations where we operate;
  • Strong safety performance at all operations, maintaining the lowest LTI (lost-time injury) frequency rate to date; and
  • Establishment of a multi-disciplinary working group to review our approach to the ESG landscape, chaired by our Senior Vice-President and Chief Corporate Officer. The working group reports to the board and its committees.

We welcome stakeholder feedback on this update at sustainabledevelopment@cameco.com

Economic

EC1Direct economic value

This indicator provides information about Cameco’s annual revenue, operating costs, employee wages and benefits, payments to providers of capital, payments to governments, community investments and economic value retained.

  2019 2018
Revenues 1,862,925 2,091,661
Operating Costs 1,453,352 1,564,285
Employee Wages and Benefits 312,561 395,220
Payments to Providers of Capital 104,097 144,200
Payments to Government 26,545 31,027
Community Investments 1,576 1,838
Economic Value Retained -35,206 -44,909

All figures in Canadian dollars (1,000s).

Revenue by region

(Revenue is attributed to the customer location)

  2019 2018
Americas 835,061 956,481
Europe 371,350 335,789
Asia 656,514 799,391
Totals 1,862,925 2,091,661

What it means

In 2019, revenue decreased due to a reduction in the sales volumes of uranium and a decrease in the Canadian dollar average realized price despite an increase in the uranium spot price. Operating costs decreased mainly due to the lower uranium sales volumes. Employee wages and benefits were down due to a reduced overall workforce. The transition to a single annual dividend payment in 2019 resulted in reduced payments to shareholders. Finally, payments to government were down because of lower tax requirements overall due to reduced profits.

Note

Starting in 2019, revenue is reported based on geographic location of the customer and we have included the comparable information for 2018. Prior to that revenue was reported based on geographic location Cameco providing services to the customer.

For more information on payments to governments, please see Cameco’s Extractive Sector Transparency Measures Act Annual Report

EC6Local hiring

This indicator provides information about the number of local employees at our operations in northern Saskatchewan, and the number of senior managers from those local communities. We focus specifically on northern Saskatchewan because it is a remote region where there are few employment options and employees would otherwise be flown in. Most of our other operations are in larger centres where local hiring is not a critical issue.

  2019 2018
Local employees / total 310/612 319/642
% employees from local communities 50.70% 49.70%
  2019 2018
Senior managers from local communities / total senior managers 0 of 11 1 of 10
% senior management from local communities 0.00% 10.00%

What it means

Our preference is to hire locally wherever we operate. While our overall local employment numbers decreased slightly in 2019 in northern Saskatchewan because of the ongoing suspension of production at McArthur River and Key Lake, we continue to see around 50% of our northern workforce hired from the region. Over the last five years, our downsizing has resulted in a significant decrease in the number of senior manager roles from 26 to 11, which means fewer opportunities for employees from local communities to move into those roles.

Definitions

Senior manager – A manager or superintendent level employee.

Local employee – To be considered a local employee in northern Saskatchewan, you must be registered as a Resident of Saskatchewan’s North (a designation defined and managed by the Saskatchewan government) at the time of hire.

EC7Infrastructure and service investments

This indicator provides an overview of Cameco’s investments in infrastructure and services for local communities in Canada and the US.

a – Needs assessments
We have not completed a formal infrastructure needs assessment in our local communities.

b – Current (or expected) impact of infrastructure and service investments
Since 2009, Cameco has invested nearly $10.5 million in support of infrastructure improvement projects in local communities.

What it means

In 2019, the total value of donations Cameco provided to the communities where we operate reflected reduced revenues. Cameco does not specifically target infrastructure investments, but we receive many requests for investments from local communities to support these types of projects because many of these communities have infrastructure deficits.

We target four areas for support from our community investment fund:

  • youth
  • health and wellness
  • education and literacy
  • community development

For more information on community specific initiatives in Canada, please visit our websites:

About this indicator

The community investments measured and reported on in this indicator are also included in the community investment total in EC1.

For this indicator, we have not included any infrastructure that was built primarily for business purposes but that local communities may also benefit from (e.g. roads). We also do not count any community investment payments provided to communities in northern Saskatchewan with which Cameco has signed collaboration agreements, or payments Cameco makes to the Six Rivers Trust, a fund that is overseen by a northern Saskatchewan board of directors and dedicated to local priorities which may potentially include infrastructure projects.

EC8Indirect economic impact

This indicator provides information about Cameco’s economic impact on geographic areas, including the secondary or indirect impact of our operations.

What it means

No relevant economic impact studies were completed in 2019. While Cameco is a significant economic contributor everywhere we operate – both directly through salaries, wages, and local procurement, and indirectly through secondary employment and secondary economic activity – this has been impacted in recent years due to changes in our operations and support functions. These operational changes include the suspension of production at Rabbit Lake and curtailment at the US operations in 2016, the indeterminate suspension of production at our McArthur River/Key Lake operation in 2018, the reduction of the workforce at our northern Saskatchewan operations and at our corporate office, and the changes made to the way our global marketing activities are organized, each of which have had a corresponding effect on the communities where we operate. These actions are deemed necessary for the long-term health of the company in a uranium market that continues to be weak. Improving operational efficiency is part of our strategy to effectively manage costs and remain competitive, while positioning the company and our stakeholders to benefit as the market improves in the future.

Note

Cameco has been recognized as GOLD Level status for Progressive Aboriginal Relations by the Canadian Council for Aboriginal Business (which was recertified in 2020 on a three-year cycle). Also, the Mining Association of Canada awarded Cameco the Towards Sustainable Mining award for Community Engagement Excellence in 2020 for its community-based environmental monitoring program with a history of over 18 years. For more information, please visit the links to read the new releases.

EC9Local spending

This indicator shows the total dollar amount of goods and services procured from local suppliers for Cameco’s operating sites.

  2019 2018
N. Saskatchewan    
Total procurement $116,336,372.29 $134,462,747
Local procurement $98,661,565.93 $120,261,167
% Local procurement 84.81% 89%
Ontario    
Total procurement $159,131,557.19 $108,819,861
Local procurement $71,023,123.81 $54,811,476
% Local procurement 44.63% 50%
U.S. (CDN) (CDN)
Total procurement $7,408,622.59 $6,968,316
Local procurement $3,196,213.11 $2,781,252
% Local procurement 43.14% 40%
Total    
Total procurement $265,201,745.71 $250,250,923
Local procurement $190,555,709.21 $177,853,895
% Local procurement 71.85% 71%

Note:

Northern Saskatchewan procurement spend includes services only.

What it means

We are committed to using local suppliers wherever we operate. It is a commitment codified in our procurement of goods and services policy and exemplified by our spending in northern Saskatchewan, where we have procured nearly $3.85 billion in goods and services from local companies since 2004. While our overall local procurement spend was reduced in 2019 due to a lower capital spend throughout the company as a result of a difficult uranium market, the proportion of spending that went to local contractors remained consistent with 2018.

Definitions

Local supplier – Is defined differently for each of Cameco’s operating locations as follows:

Northern Saskatchewan local supplier – A company or joint venture that is at least 50% owned by people or communities from the Northern Saskatchewan Administration District.

Ontario local supplier – One located in the province of Ontario.

US local supplier – A supplier located in the same state as the US mine operations. For Crow Butte operations a local supplier is a supplier located in the state of Nebraska. For Smith Ranch-Highland operations a local supplier is a supplier located in the state of Wyoming.

Environment

EN3Energy consumption (within organization)

This indicator presents Cameco’s energy consumption in petajoules, including energy consumed as fuel from non-renewable sources and energy consumed as electricity. Energy consumed as fuel from non-renewable sources is calculated by applying a fuel- and region-specific energy content factor to the consumed volume of non-renewable energy sources at Cameco’s operations. These energy sources include propane, natural gas, diesel and gasoline. Cameco does not utilize renewable energy sources directly. Energy consumed as electricity is calculated by applying a conversion factor of 0.0036 gigajoules per kilowatt hour (GJ/kwh) to the raw electricity consumption. Cameco does not sell energy as electricity, heating, cooling, or steam.

  2019 2018
Total fuel consumption from non-renewable sources (PJ) 1.8 1.9
Total electricity consumption (PJ) 1.3 1.4
Total energy consumption within the organization (PJ) 3.1 3.3

What it means

The total energy consumed by Cameco in 2019 was lower than in 2018. Lower energy consumption in 2019 was the result of the reduced level of activity at McArthur River and Key Lake, which remained in a safe state of care and maintenance throughout the year. However, Cameco’s facilities have been able to identify and implement energy conservation opportunities in a number of areas at different facilities over the past few years and these efforts continue.

EN8Water withdrawal

This indicator presents the annual volume of water withdrawal in millions of cubic metres (Mm3). Cameco withdraws water from surface water, collects groundwater, and withdraws water from municipal water utilities in the areas where we operate. Rainwater that comes into contact with our operations is collected and stored, which is reflected in our water withdrawal volumes. Cameco does not withdraw wastewater directly from other organizations. Water withdrawal from our exploration activities is not included.

  2019 2018
Total intake (Mm3) 19.5 19.7

What it means

In 2019, the volume of water withdrawal was similar to 2018. Water withdrawal from dewatering at Key Lake was lower in 2019 compared to 2018. This is primarily associated with reduced dewatering discharge at Key Lake as a result of the reverse osmosis (RO) plant being down for all of September and a portion of October for modifications to the pH adjustment system. Cooling water intake was higher at the Port Hope Conversion Facility in 2019 compared to 2018, due to higher production. Therefore, overall at a corporate level, water withdrawal volumes remained similar between 2019 and 2018 despite site changes.

MM1Operational footprint

This indicator measures the amount of Cameco’s land, leased and owned, currently in use and not yet rehabilitated.

  2019 2018
Total land disturbed and not yet rehabilitated (hectares)    
Year End Total 3,174 3,190
Additional Land Disturbed -16 -543

This indicator excludes advanced uranium projects (Kintyre, Yeelirrie, Millennium), office structures, exploration activities, operations in which Cameco does not have operational control, or rented facilities that Cameco operates (Cobourg).

What it means

There were 9 additional hectares of offsite gravel pits at Cigar Lake developed in 2019, as well as 13 hectares of offsite gravel pits reclaimed at McArthur River and 12 hectares reclaimed at Rabbit Lake.

Approximately 40% of Cameco’s disturbed lands are from our US ISR operations, which have minimal surface disturbance. Our operations in northern Saskatchewan have a very small operational footprint while having the capacity to produce significant volumes of uranium to fuel large amounts of zero-carbon electricity.

Definitions

The definition of land disturbed and not yet rehabilitated is dependent on the jurisdiction of the operation as listed below:

  • In Saskatchewan, total land disturbed and not yet rehabilitated is accepted by regulators as “Developed” land
  • In the United States, total land disturbed and not yet rehabilitated is defined by regulators as “Affected Area”
  • For Ontario, total land disturbed is equal to the licensed area of the facility

EN15Direct GHG emissions (by weight)

This indicator presents Cameco’s scope 1 greenhouse gas (GHG) emissions as kilotonnes of carbon dioxide equivalents (CO2e). CO2e is used to compare the emissions from various GHG sources based on their global warming potential (GWP). Cameco adopted the GWPs published by Environment and Climate Change Canada (ECCC) and the United States Environmental Protection Agency (US EPA), which reference the GWPs stated in the International Panel on Climate Change’s Fourth Assessment Report.

Cameco’s significant sources of direct GHG emissions include those generated by the consumption of fuel from non-renewable sources and industrial processes.

Emission factors that are country- and fuel-specific are used to convert the fossil fuels consumed to GHG emissions in CO2e. For our Canadian operations, we have used emission factors published by ECCC through the Greenhouse Gas Reporting Program. For our US operations, we use the emission factors published by the US EPA in the most recent Emission Factors for Greenhouse Gas Inventories document.

  2019 2018
Corporate totals of GHG emissions (kilotonnes CO2e)    
Scope 1 (EN15) 104 116

What it means

Direct GHG emissions were lower in 2019 as compared to 2018. Lower direct GHG emissions in 2019 are explained by the continued safe, non-producing status of McArthur River and Key Lake.

EN16Indirect GHG emissions (by weight)

This indicator presents Cameco’s indirect (Scope 2) greenhouse gas (GHG) emissions as kilotonnes of carbon dioxide equivalents (CO2e). CO2e is used to compare the emissions from various GHG sources based on their global warming potential (GWP). Cameco adopted the GWPs published by Environment and Climate Change Canada and the United States Environmental Protection Agency, which reference the GWPs stated in the International Panel on Climate Change’s Fourth Assessment Report.

Indirect GHG emissions are calculated by applying a utility- or region-specific emission factor to the amount of electricity purchased from that area, which is determined through utility invoices.

  2019 2018
Corporate totals of GHG emissions (kilotonnes CO2e)    
Scope 2 (EN16) 173 187

What it means

Indirect GHG emissions were lower in 2019 as compared with 2018. Lower indirect GHG emissions in 2019 are explained by the continued safe, non-producing status of McArthur River and Key Lake.

EN21Air emissions (by type and weight)

This indicator presents the total air emissions from our Canadian operations of nitrogen oxides (NOx expressed as NO2), sulphur dioxide (SO2), carbon monoxide (CO), volatile organic compounds, total particulate matter (PM), particulate matter less than 10 microns (PM10), particulate matter less than 2.5 microns (PM2.5), ammonia (NH3), uranium (U) and hydrogen fluoride. Air emissions of constituents are presented in kilotonnes except for uranium and hydrogen fluoride, which are reported in tonnes. Air emissions from our in-situ recovery operations in the United States are not material for this indicator and are not included.

Air emissions of NOx, SO2, CO, VOCs, PM, PM10, PM2.5 and NH3 are calculated using the guidance provided by Environment and Climate Change Canada through the National Pollutant Release Inventory. The total air emissions for these constituents include air emissions released through point sources such as process stacks, storage and handling, fugitive emissions, and as a result of road dust. Air emissions of uranium and hydrogen fluoride include air emissions released through point sources.

  2019 2018
Air emissions (kilotonnes)    
Oxides of Nitrogen NOx (expressed as NO2) 0.1 0.2
Sulphur Dioxide (SO2) 0.0 0.0
Carbon Monoxide (CO) 0.0 0.0
Volatile Organic Compounds 0.0 0.0
Total Particulate Matter 0.4 0.4
PM10 – Particulate Matter <= 10 microns 0.2 0.2
PM2.5 – Particulate Matter <= 2.5 microns 0.0 0.0
Ammonia (NH3) 0.0 0.0
Uranium* 0.1 0.0
Hydrogen Fluoride* 0.5 0.6
*Uranium and hydrogen fluoride are reported in tonnes

What it means

In 2019, emissions of nitrogen oxides, sulphur dioxide, carbon monoxide, volatile organic compounds, and ammonia remained lower or the same compared to 2018. Lower air emissions of these constituents are explained by the transition of McArthur River and Key Lake to a safe, non-producing status in 2018. Air emissions of uranium were higher in 2019 as compared with 2018, but still within the range reported historically.

EN22Water discharge (by quality and destination)

This indicator presents the annual volume of planned water discharge in millions of cubic metres (Mm3) by destination (i.e. surface water, municipal treatment facilities, land, evaporation pond, or deep disposal well) and treatment method (i.e. treated by Cameco, treated by municipal authorities, clean, or untreated). Cameco does not reuse water produced by other organizations. The annual volume of water discharged to evaporation from our Smith Ranch-Highland operation is not included.

This indicator also includes information about the quality of the water we discharge to surface water bodies, land application via irrigation, and municipal treatment facilities. We report the total amount of certain materials discharged over the year in kilograms (kg). The totals are calculated by multiplying the volume of water discharge by the concentration of the constituent in water. An increase may result from either an increase in water flow or an increase in the constituent concentration in the water.

  2019 2018
Annual volume (Mm3)    
Discharge of clean diverted water to surface water 6.4 5.0
Discharge of water to municipal treatment facilities 0.2 0.2
Discharge of clean treated water to surface water 12.1 13.4
Discharge of clean treated water to land application via irrigation 0.1 0.2
Discharge of water to deep disposal well 1.0 0.9
Discharge of water to evaporation pond 0.03 0.02
  2019 2018
Discharged to surface water (kg)    
Arsenic 47 35
Copper 6 11
Lead 2 15
Molybdenum 747 916
Nickel 309 418
Radium-226* 290 301
Selenium 24 27
Total suspended solids 12,110 13,266
Uranium 174 180
Zinc 43 38
*Radium-226 is reported in MBq
Discharged to municipal treatment facilities (kg)    
Total Uranium 6 5
Treated water discharged to land application via irrigation (kg)    
Arsenic 0 0
Selenium 2 3
Uranium 259 158

What it means

Water discharge quantity

In 2019, the volume of clean diverted water discharged to surface water was higher than in 2018. This is primarily associated with an increase in cooling water discharge at the Port Hope Conversion Facility associated with increased production.

In 2019, the volume of clean treated water discharged to surface water was lower than in 2018. This is primarily associated with reduced dewatering discharge at Key Lake as a result of the reverse osmosis (RO) plant being down for all of September and a portion of October for modifications to the pH adjustment system.

There were no other notable trends in water discharge quantity at a corporate level – water discharge remained within historical ranges.

Water discharge quality

In 2019, the quality of the clean treated water discharged to surface water complied with all applicable regulatory limits. Cameco remains focused on improving the quality of our clean treated water discharged to surface water. This focus has involved improvements in our water management practices and treatment technologies and has resulted in a significant decline in the mass loadings of molybdenum, selenium and uranium in treated water discharged to surface water over the past number of years.

In 2019, the quality of the water released to land via irrigation met all applicable regulatory requirements. With increased restoration activity, the total mass of uranium released to land via irrigation increased because of the blend of the water and quantity of water to be released. Irrigated water samples, soil samples, and vegetation samples in the irrigated areas are taken regularly and remain within the permitted levels.

EN23Waste

This indicator presents the total amount of non-hazardous, hazardous, and low-level radioactive waste we generate in kilotonnes. Cameco does not generate intermediate or high-level radioactive waste.

The total amount of waste generated in each category is separated and presented by disposal method: diverted, landfilled or stored on site. Diverted materials include those that are recycled, reused, incinerated, repurposed or reprocessed. We separate waste into these disposal categories using internal tracking systems that track the inventory of waste on site and the transfer of waste off site. The amount of waste transferred off site is confirmed through information provided by the receiving organization.

  2019 2018
Total waste (kilotonnes)    
Generated 7.4 6.5
Diverted 2.3 2.1
Landfilled or stored 5.1 4.5
Overall rate of diversion (%) 32% 31%
Non-Hazardous waste (kilotonnes)    
Generated 1.6 1.8
Diverted 0.7 0.6
Landfilled or stored 0.8 1.3
Rate of diversion (%) 48% 30%
Low-level radioactive waste (kilotonnes)    
Generated 5.7 4.5
Diverted 1.5 1.4
Landfilled or stored 4.2 3.1
Rate of diversion (%) 26% 30%
Hazardous waste (kilotonnes)    
Generated 0.2 0.1
Diverted 0.1 0.1
Managed via treatment/disposal 0.1 0.0
Rate of diversion (%) 71% 80%

What it means

Overall, the amount of waste Cameco generated in 2019 was slightly higher than in 2018 but remained lower than historical trends. This slight increase as compared with 2018 is primarily associated with marginally higher low-level radioactive waste quantities generated at Key Lake and the Port Hope conversion facility as a result of clean-up activities.

Definitions

Non-hazardous waste – Includes domestic, commercial, and industrial materials that become waste, such as plastic, tin, paper and cardboard, tires, metal, wood pallets, kitchen cooking oil and wood.

Low-level radioactive waste – Includes industrial materials that have become contaminated with radioactive material and are more radioactive than clearance levels and exemption quantities allow. This type of waste includes industrial materials such as protective equipment, paper, cardboard, equipment, tools, metal, plastic, concrete, sand, sludges, insulation, and wood.

Hazardous waste – Includes hazardous recyclable materials, and generally means a waste with hazardous properties that may have potential effects to human health or the environment. The hazardous waste we generate includes materials such as used petroleum fuels (oil, diesel, gas), batteries, paint and paint-related materials, compressed gas cylinders and light fixtures.

MM3Mine waste (overburden, rock, tailings, sludges)

This indicator provides information about the amount of solid waste generated annually in the form of tailings, water treatment sludge and slime, the net annual change in our unreclaimed waste rock inventory (including mineralized and non-mineralized rock), and the total mine waste generated for each year. We do not disclose any risk assessment associated with this indicator, although all are complete and provided to our regulators.

  2019 2018
Mine waste (tonnes)    
Annual tailings and process wastes generated 23,198 25,456
Annual change in unreclaimed waste rock inventory 44,040 10,329
Net of wastes created and reclaimed 67,238 35,785

What it means

The amount of tailings and process wastes we produce depends primarily on production rates and ore grades. The change in unreclaimed waste rock inventory is the net of new waste produced and existing waste consumed or reclaimed. Efforts to utilize waste rock as underground backfill, for road construction, and other uses help to minimize the increase in inventory, and in some years results in a net decrease in inventory.

Tailings tonnages remained low in 2019, as a result of the continued care and maintenance of the Key Lake, McArthur River, and Rabbit Lake operations.

The unreclaimed waste rock inventory increased in 2019 compared to 2018 due to production at Cigar Lake and reduced consumption of historical waste rock at Key Lake due to the ongoing shutdown.

For more information on our tailings facilities, please see Cameco Tailings Management.

EN24Significant incidents (total number and volume)

This indicator provides information about the number of significant environmental incidents. We determine significance based on the incident’s actual or potential environmental impact, or by the level of regulatory and public concern about it.

For significant incidents, we report the total quantity of material released and any associated impacts.

  2019 2018
Total number 0 0
Quantity 0 0

What it means

Cameco has been focused on minimizing environmental incidents for many years and has used the number of environmental incidents as the main measure for assessing environmental performance, a key factor in determining employee and officer compensation. Beginning in 2016, the corporate environmental objective was transitioned from an incident-based measure to one based on significant environmental aspects. However, there is an overriding compensation target that affects employee and executive compensation if Cameco incurs a significant environmental incident.

Definitions

Significant environmental incident – Any environmental incident that results in moderate or significant environmental impacts or current and future remediation costs of greater than $1 million or has reasonable potential to result in significant negative impact on the company’s reputation with our major stakeholders.

EN29Significant environmental fines

This indicator provides information on the number of “significant environmental fines” that we received for non-compliance with environmental laws and regulations, as well as the total number of “non-monetary sanctions.” It does not include significant environmental fines or non-monetary sanctions that are in the appeals process or imposed through national or international dispute resolution mechanisms.

  2019 2018
Significant environmental fines 0 0
Non-monetary sanctions 0 0

What it means

Cameco did not receive any significant environmental fines or non-monetary sanctions in 2019.

Definitions

Significant environmental fine – Fines that exceed CDN $100,000 paid by Cameco or a controlled subsidiary in Canada or the US to a government authority for non-compliance with environmental laws or regulations.

Non-monetary sanctions – An administrative or judicial sanction levied against Cameco or a controlled subsidiary for non-compliance with environmental laws and regulations. Non-monetary sanctions include, but are not limited to, formal actions issued by regulatory authorities at or above the level of notices of violation or notices of contravention, pursuant to a graduated enforcement regime.

Social: Labour Practices and Decent Work

LA1Hiring and turnover (by age group, gender)

This indicator provides information about our annual rates of hiring and turnover, and the total number of employees who are hired or leave the organization, by gender and age group.

2019 2018
New hires Year end Rate Turnover Year end Rate New hires Year end Rate Turnover Year end Rate
72 1,376 5.23% 100 1,376 7.27% 50 1,372 3.64% 605 1,372 44.10%
18 457 3.94% 35 457 7.66% 14 477 2.94% 132 477 27.67%
40 312 12.82% 23 312 7.37% 23 337 6.82% 155 337 45.99%
45 1,105 4.04% 64 1,115 5.74% 37 1,183 3.13% 379 1,183 32.04%
5 406 1.23% 48 406 11.82% 4 329 1.22% 203 329 61.70%
90 1,833 4.91% 135 1,833 7.36% 64 1,849 3.46% 737 1,849 39.86%
 
 
Male
Female
Up to 35
36-55
56+
Total
  New hires Year end Rate Turnover Year end Rate
2019            
Male 72 1,376 5.23% 100 1,376 7.27%
Female 18 457 3.94% 35 457 7.66%
Up to 35 40 312 12.82% 23 312 7.37%
36-55 45 1,115 4.04% 64 1,115 5.74%
56+ 5 406 1.23% 48 406 11.82%
Total 90 1,833 4.91% 135 1,833 7.36%
2018            
Male 50 1,372 3.64% 605 1,372 44.10%
Female 14 477 2.94% 132 477 27.67%
Up to 35 23 337 6.82% 155 337 45.99%
36-55 37 1,183 3.13% 379 1,183 32.04%
56+ 4 329 1.22% 203 329 61.70%
Total 64 1,849 3.46% 737 1,849 39.86%

Figures are as of December 31 each year. For this indicator, we do not include temporary or casual employees.

What it means

The turnover rate reflects continued weak market conditions. The company made permanent workforce reductions in 2018 when production at the McArthur River and Key Lake operations was suspended for an indeterminate duration. The turnover rate has since returned to an industry norm.

Definitions

Turnover – The number of employees who resign, are dismissed or retire while employed by Cameco each year.

Note:

We currently do not provide any regional breakdowns on this information.

MM4Strikes and lockouts (over one week in duration)

This indicator provides information on the number of strikes and lockouts at our unionized sites in any given year that are over one week in duration.

  2019 2018
Number of strikes over 1 week 0 0
Number of lock-outs over 1 week 0 0

What it means

In 2019, there were no strikes or lockouts at any of our unionized operations, Key Lake, McArthur River, Cameco Fuel Manufacturing and the Port Hope Conversion Facility.

Definitions

Strike – A strike is a collective action by employees to stop or curtail work.

Section 1(1) of the Canadian Labour Relations Act, 1995 defines a strike as a cessation of work, a refusal to work or to continue to work by employees in combination or in concert or in accordance with a common understanding, or a slow-down or other concerted activity on the part of employees designed to restrict or limit output.

Lockout – A lockout occurs when an employer closes a workplace, suspends work or refuses to continue employing a number of employees during a labour dispute.

Section 1(1) of the Canadian Labour Relations Act, 1995 defines a lockout as the closing of a place of employment, a suspension of work or a refusal by an employer to continue to employ a number of employees, with a view to compel or induce the employees, or to aid another employer to compel or induce that employer’s employees, to refrain from exercising any rights or privileges under this Act or to agree to provisions or changes in provisions respecting terms or conditions of employment or the rights, privileges or duties of the employer, an employers’ organization, the trade union, or the employees.

LA5Health and safety committees

This indicator shows the number and percentage of Cameco’s workers who are represented by formal management-worker occupational health and safety (OHS) committees. These committees help monitor and advise on occupational health and safety programs.

  2019 2018
Total workers 1,885 1,897
Workers represented by joint committees 1,885 1,897
% of workers represented in joint committees 100% 100%

Figures are as of December 31 each year.

What it means

All of Cameco’s employees (regular, temporary and casual) are represented by OHS committees. These committees operate at both the site level and at our corporate offices.

LA6Injury frequency, missed work

This indicator provides information about Cameco’s rates of absenteeism, lost-time injuries (LTI) and work-related fatalities. For lost-time injuries and fatalities, we include both employees and contractors in our numbers. Minor updates to the LTI rate may be made to previous years on occasion if past injuries are reclassified as the worker’s condition changes (e.g. a minor injury worsens, subsequently resulting in lost time).

We do not report absentee rates for Australia. Absentee rates also do not include contractors to Cameco.

  2019 2018
Absentee rate (%) 3.31 3.31
LTI rate (per 200,000) 0.09 0.09
# of fatalities 0 0

What it means

Cameco has a strong safety culture. The LTI frequency remained stable in 2019 and continues to follow a declining trend over time. Blind River and Crow Butte, currently have more than 10 years without an LTI.

Definitions

Lost-time injury – A work-related injury requiring professional medical assessment and treatment, and where the employee is not able to return to work for their next scheduled shift. If there is uncertainty whether the lost-time injury is work related, Cameco sites must use the workers’ compensation decision to accept or deny the claim as the criteria for decision. Regulatory acceptance of the lost-time injury claim requires the site to count the injury as work-related.

Lost-time injury rate – Based on the total number of lost-time injuries, you can compute the incidence rate using the following formula: lost-time injury rate = # of LTI cases x (200,000 hours/annual hours worked).

Note

Currently, Cameco only reports this information at a global level.

LA11Performance and career development reviews (by gender)

This indicator provides information about the percentage of employees who receive formal performance appraisals and career development reviews.

In 2019, 100% of Cameco’s non-unionized employees received formal performance appraisals and career development reviews. Cameco’s unionized employees, who make up 25.6% of our male staff and 15.4% of our female staff, do not undergo formal performance reviews.

What it means

Cameco uses a performance management program called “Core” which is guided by the following key principles: meaningful conversations around results and behaviours; alignment of employee priorities to corporate objectives; continual improvement; and feedback directed to the employee’s growth and development.

All non-unionized employees strive for a minimum of four conversations per year and are encouraged to have more meaningful conversations throughout the year based on continual feedback.

Definitions

Performance review – A formal meeting between an employee and his or her supervisor to review and discuss the employee’s performance against goals and expectations established at the start of the year by employees and supervisors.

LA12Workforce diversity

This indicator provides information on our workplace diversity, including the number and percentage of women, Indigenous peoples, visible minorities and persons with disabilities in our workforce.

  2019 2018
# of employees 1,885 1,802
Women 47525.20% 46625.86%
Indigenous 32717.35% 32618.09%
Visible Minority 1015.36% 975.38%
Persons with Disabilities 542.86% 281.55%

Figures are as of December 31 each year. This indicator only includes employees from our Canadian operations (including temporary and casual), as other jurisdictions are not (at this time) required to collect or maintain diversity information on employees.

What it means

In 2019, we continued to move forward with our workforce diversity plan with a focus on education and awareness. We continued to deliver the “Expect Respect” program, which provides employees with the training and resources to maintain a respectful workplace. Mandatory, corporate-wide unconscious bias training was also delivered in 2019.

Definitions

Indigenous peoples – this term is used as an equivalent to the federally legislated definition of aboriginal peoples under Canada’s Employment Equity legislation. The legislation defines an aboriginal person as a North American Indian or a member of a First Nation, a Métis, or Inuit. North American Indians or members of a First Nation include status, treaty, or registered Indians, as well as non-status and non-registered Indians.

Visible minority – A person declared as visible minority are persons, other than aboriginal persons, who are non-Caucasian in race or non-white in colour, regardless of birthplace.

Persons with disabilities – Persons who have a long-term or recurring physical, mental, sensory, psychiatric, or learning impairment who:

  • Consider themselves to be disadvantaged in employment by reason of that impairment
  • Believe that an employer or potential employer is likely to consider them to be disadvantaged in employment by reason of that impairment
  • Persons whose functional limitations owing to their impairment have been accommodated in their current job or workplace

Social: Human Rights

HR8Disputes related to Indigenous rights

This indicator provides information about the total number of incidents registered through formal means related to Indigenous rights.

  2019 2018
# of incidents registered through formal means 1 1

What it means

Cameco has a long history working with Indigenous groups wherever we operate, exemplified by the numerous mutually beneficial agreements we have with Indigenous peoples in Australia and Canada.

In 2019, the same Indigenous group that filed 14 contentions with the US Nuclear Regulatory Commission (NRC) in 2018 in respect of the final environmental assessment for the application to amend the Marsland Expansion Area licence – six of which were related to Indigenous rights infringement and none were admitted by the NRC – petitioned the NRC for review. The petition for review argued that these six contentions were erroneously excluded, among other items. The NRC denied the petition for review in its entirety.

MM5Proximity to Indigenous territories

This indicator provides information about the number of Cameco sites on (or adjacent to) Indigenous territories, as well as the percentage of formal agreements in relation to the overall number of our operating sites that are on or adjacent to an Indigenous territory.

Sites on or adjacent to Indigenous territories:

  • Four sites in northern Saskatchewan are on traditional territory (all of these operations have formal agreements in place with local Indigenous communities)
  • One operating Cameco site in Ontario is adjacent to Indigenous lands (this operation does not have a formal agreement in place)
  • Three sites in the US are located on Indigenous territory (none of these operations have formal agreements in place)

What it means

In northern Saskatchewan, Cameco has entered into five formal agreements with Indigenous communities that cover the four sites we have on traditional territory. Each of these agreements provide Indigenous communities with workforce and business development opportunities, dedicated community engagement programs, community investment monies and mechanisms to collaborate around environmental stewardship.

Agreement Participants What is involved

Collaboration Agreements (CAs)
(2012, 2013, 2016, 2017)
  • Lac La Ronge Indian Band
  • The communities of the Athabasca Basin (including Hatchet Lake, Black Lake and Fond du Lac Denesuline First Nations, along with four northern municipalities)
  • English River First Nation (EFRN)
  • the Northern Village of Pinehouse and the Metis Local situated there
  • Cameco, Orano (except for the Lac La Ronge Indian Band agreement to which Orano is not a party)

The agreements codify the relationships we’ve had in these communities for over 25 years and reaffirm our commitment as partners in employment, business development and community investment. They also provide a more predictable model of funding over the long term so communities will have greater ability to plan for community investment initiatives. The long-term nature of the agreements also means more opportunity in the form of jobs through business contracts defined in the agreements, and calls for an increase in workforce development initiatives such as scholarships and training opportunities.

Participation Agreement
(2014)
  • Southend and Kinoosao First Nations, which are part of the Peter Ballantyne Cree Nation
  • Thakotitan Economic Development Corporation
  • Cameco

Provides assistance to Southend to increase its business and workforce capacity and start to make more meaningful inroads into the mining industry.

Though not considered here as “formal agreements,” Cameco also has:

  • Several trappers’ compensation agreements with trappers in northern Saskatchewan who continue to trap on or near our operating sites. These agreements encourage trappers to continue trapping, provide them with a yearly cash distribution, and, for some, an allotment of oil and/or gasoline
  • A signed memorandum of understanding (MOU) with the Mississauga First Nation in relation to Cameco’s Blind River Refinery in Ontario. The MOU commits the parties to work together towards mutual gain, and focuses primarily on socio-economic development projects related to youth, education, health and wellness, and community development

Definitions

Adjacent – The tenure boundaries of an applicable Cameco operating site are physically contiguous with the boundaries of an Indigenous territory.

Indigenous territory – can mean two things:

  • Indigenous lands – Land in relation to which Indigenous peoples hold or formally claim title or an equivalent interest (e.g. “reserve” land in Canada). This may include areas where ownership is claimed by multiple parties
  • Traditional territory – Land on which Indigenous peoples (a) historically exercised traditional activities (e.g. hunting, fishing, trapping or gathering) and (b) still do today

Note

2018 reporting should have included US operations are on Indigenous territory.

Society

SO1Community engagement

This indicator provides information about the number and percentage of Cameco operations in Canada and the US that have local community engagement activities, impact assessments and development programs.

Community engagement activities

This includes various local community engagement activities that we carry out in relation to our “supportive communities” measure of success. This would include activities such as community visits, community meetings, events, digital information (website and social media), investments, print publications, presentations, and others.

  2019 2018
Number of operations with community engagement activities 9/9 9/9
% of operations with community engagement activities 100% 100%

Impact assessments

These are socio-economic impact assessments conducted by operations either to meet requirements for environmental impact assessments and/or for standalone local economic impact assessments. They are conducted as required and span an extended timeframe, often over several years.

  2019 2018
Number of operations with impact assessments 9/9 9/9
% of operations with impact assessments 100% 100%

Development programs

Community development programs are formalized programs or agreements developed with local communities, groups and/or organizations, such as impact management agreements and/or memorandums of understanding. These are developed as required and may span an extended timeframe, often over several years.

  2019 2018
Number of operations with development programs 7/9 7/9
% of operations with development programs 78% 78%

What it means

Community engagement is an important aspect of operational activities across our sites and is a central component of Cameco’s five-pillar strategy and all the agreements we have with Indigenous communities. For more information on the five-pillar strategy, please see the Cameco’s northern website.

Note

All of Cameco’s operations have a socio-economic impact assessment.

MM6Disputes related to land use and customary rights

This indicator provides information about significant disputes relating to the land use and customary rights of local or Indigenous peoples where we operate.

In 2019, the same Indigenous group that filed 14 contentions with the US Nuclear Regulatory Commission (NRC) in 2018 in respect of the final environmental assessment for the application to amend the Marsland Expansion Area license – six of which were related to Indigenous rights infringement and none were admitted by the NRC – petitioned the NRC for review. The petition for review argued that these six contentions were erroneously excluded, among other items. The NRC denied the petition for review in its entirety.

What it means

We respect the rights of Indigenous peoples, and we invest considerable time in building relationships with local communities through our various engagement activities, including working with communities and traditional land users to understand local land use.

Definitions

Significant disputes – Disputes that have been elevated to:

  • A legal proceeding
  • A formal objection filed with the applicable regulator
  • A blockade or other form of civil disobedience
  • The need to use a dispute resolution mechanism included in an agreement between the community and Cameco

MM7Use of grievance mechanisms

This indicator looks at the extent to which local communities or Indigenous groups used grievance mechanisms to resolve disputes relating to land use and customary rights, and the status or outcome of those processes.

In 2019, a concern was raised by a local trapper in relation to exploration activities on one of Cameco’s projects in the Athabasca Basin of northern Saskatchewan. Cameco addressed the trapper’s concerns by way of a confidential arrangement.

What it means

Local communities and Indigenous peoples have several grievance mechanisms available to them, and Cameco is committed to working with them to resolve concerns in a mutually beneficial manner as they are raised.

MM10Operations with preliminary decommissioning plans

This indicator looks at the number of operations Cameco has with preliminary decommissioning plans, as well as the financial provisions attached to those plans for reclamation activities.

  Preliminary Decommissioning plan Total estimated future decommissioning and reclamation costs
Total 9 of 9 (100%) $1,127

All figures in Canadian dollars (1,000s).

This indicator does not include advanced uranium projects (Kintyre, Yeelirrie, and Millennium), office structures, exploration activities, operations in which Cameco does not have operational control, or rented facilities that Cameco operates.

What it means

All of Cameco’s operations have preliminary decommissioning plans with adequate funding attached. For more information on estimated decommissioning costs for each of Cameco’s operations and the financial assurances we have in place to support those costs, see our 2019 Management’s Discussion and Analysis and most recent Annual Information Form.

Definitions

Preliminary Decommissioning plan – Conceptual plan that describes the activities required after the operating life of a facility to reclaim the site to defined final end-state objectives. It includes an associated cost estimate for labour, materials, equipment, waste management, environmental assessment, monitoring and administration to carry out the plan. The amount of detail in these decommissioning plans depends on the mine life remaining. Regulators review our conceptual decommissioning plans on a regular basis. As a site approaches or goes into decommissioning, a final decommissioning plan is created, which typically requires regulatory approval. This can result in further regulatory process, as well as additional requirements, costs, and financial assurances.

SO7Competition law compliance

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 Cameco 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.

SO8Significant fines (non-compliance)

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.

  2019 2018
# of sanctions 0 0
Value of significant fines (USD) 0 0
# of significant fines 0 0

What it means

Cameco strives to comply with all laws and regulations in the jurisdictions in which it operates. Cameco received no significant administrative or judicial fines and non-monetary sanctions for failure to comply with laws and regulations in 2019.

Also of note

Since 2008, Canada Revenue Agency has disputed our marketing and trading structure and related transfer pricing methodology we used for certain intercompany uranium sale and purchase agreements. To date we have received notices of reassessment for our 2003 through 2013 tax years. On June 26, 2020, the Federal Court of Appeal (Court of Appeal) decided unanimously in our favour in our dispute with CRA for the 2003, 2005, and 2006 tax years. The decision upholds the September 26, 2018 decision of the Tax Court of Canada.

The Court of Appeal decision is further confirmation that our marketing and trading structure involving foreign subsidiaries and the related transfer pricing methodology used for certain intercompany uranium purchase and sale agreements were in full compliance with Canadian laws for the three years in question. We believe the principles in the decision apply to all tax years subsequent to 2006. For more information see our most recent quarterly MD&A.

Definitions

Significant fine – Fines that exceed CDN $100,000 paid by Cameco or a controlled subsidiary in Canada, the US, or Europe to a government authority for non-compliance with government laws or regulations, other than environmental laws and regulations.

Non-monetary sanction – An administrative or judicial sanction levied against Cameco or a controlled subsidiary for non-compliance with laws and regulations that results in either (a) a Level IV or V incident under Cameco’s corrective action process standard; or (b) a criminal conviction for Cameco or one of its controlled subsidiaries.

Product Responsibility

PR4Labelling non-compliance

This indicator provides information about Cameco’s compliance with dangerous goods labelling requirements defined by transport regulations and reported to regulatory agencies or identified in internal or regulatory agency inspection reports that resulted in a fine, penalty or warning.

  2019 2018
# of incidents reported to or identified by regulatory agencies (total) 3 1
Resulting in a fine 0 0
Resulting in a warning 3 1

What it means

In 2019 Cameco received three notices of labelling non-compliance, which resulted in warnings but no fines. Three events are within the 11-year average.

Definitions

Labeling non-compliance – The types of information that must be correctly presented on our product labels are:

  • Radioactive category labels
  • Subsidiary labels
  • 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
  • Weight of package
  • Type of package and placards

PR9Sanctions (product non-compliance)

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 and Australia.

What it means

Cameco did not receive any sanctions for product non-compliance in 2019.

Definitions

Provision of products – Transportation of products, on or off-site.

Cameco Indicators

CA1Polling (public support)

This indicator provides information about the level of public support for Cameco’s operations in Saskatchewan, northern Saskatchewan, Ontario and the US.

  2019 2018
Public support %    
Saskatchewan 85 80
Northern SK 85 82
Port Hope, Ontario 91 85
Blind River, Ontario N/A 97
Nebraska N/A N/A
Wyoming N/A N/A

What it means

Cameco’s operations continue to see strong support from the communities where we operate, despite the impacts of a depressed uranium market. Due to the continued shutdown of our US operations, we did not conduct polling in those areas in the last three years. Polling in Blind River is conducted infrequently and was last completed in 2018.

CA2Average radiation dose to workers

This indicator provides information about the average radiation dose to workers at our mining and milling and fuel services divisions in Saskatchewan, Ontario and the US.

  2019 2018
Avg. radiation dose (mSv) 0.57 0.49

What it means

Our average radiation dose to workers remains consistently low, at under 1 millisievert (mSv). By comparison, typical natural background radiation doses to the public are 2-3 mSv per year. Cameco’s rates are far below the maximum annual dose limit of 50 mSv and 100 mSv over a five-year dosimetry block permitted by regulators (note that the US sites only have an annual limit, and no long-term limit in their regulations).

In 2019, the dose average increased slightly, but remained within the historic bounds. As a note, doses would be expected to increase in the future with a return to production at our sites.

The values in the table represent the arithmetic average dose of all employees and contractors at our operations. Another metric used in our annual regulatory report is the full-time equivalent average, which normalizes the doses to a standard work year of 2,000 hours. Both are valid metrics.