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Cameco Corporation ( , ) is the world's largest publicly traded uranium company, based in Saskatoon, Saskatchewanmarker. In 2008, it was the world's second largest uranium producer, accounting for 15% of world production.

History

"Cameco - A Canadian Mining and Energy Corporation" was formed in 1988 by the merger and privatization of two crown corporations: the federally owned Eldorado Nuclear Limited (known previously as Eldorado Mining and Refining Limited) and Saskatchewan-based Saskatchewan Mining Development Corporation (SMDC). The name was later shortened to "Cameco Corporation".

The new company was initially owned 62% by the provincial government and 38% by the federal government. The initial public offering (IPO) for 20% of the company was conducted in July, 1991. Government ownership of the company decreased over the next 9 years, with full privatization occurring in February, 2002.

In 1996, Cameco acquired Power Resources Inc., the largest uranium producer in the United States. This was followed in 1998 by the acquisition of Canadian-based Uranerz Exploration and Mining Limited and Uranerz U.S.A., Inc.

Operations

Head office
Head office
Cameco operates several uranium mines in North America and Kazakhstan, including McArthur Rivermarker, the world's largest high grade uranium deposit and mine, and Cigar Lake, the world's largest undeveloped high grade uranium deposit, both in Saskatchewan. Other operations in Saskatchewan include a mine and mill at Rabbit Lake and a mill at Key Lakemarker.

In the United States, Cameco operates uranium mines in the states of Nebraskamarker and Wyomingmarker through its US subsidiary Cameco Resources Inc. Cameco Resources was formed in 2007 through a restructuring of two wholly owned subsidiaries, Power Resources Inc. (Wyoming) and Crowe Butte Resources Inc. (Nebraska).

In the province of Ontariomarker, Cameco operates a uranium refinery in Blind Rivermarker and a uranium conversion facility in Port Hope, which has faced opposition from some community groups. Through the Bruce Power Limited Partnership (BPLP), Cameco also participates in nuclear power generation in the province.

In 2004, Cameco spun off its gold mining operations in Kyrgyzstanmarker, Mongoliamarker and the USAmarker to a newly formed public company, Centerra Gold. Cameco currently owns approx. 53% of Centerra's shares.

Mines
Producing
Name Location
McArthur Rivermarker Saskatchewanmarker, Canadamarker
Eagle Pointmarker (Rabbit Lake) Saskatchewanmarker, Canadamarker
Smith Ranch-Highlandmarker Wyomingmarker, United Statesmarker
Crow Buttemarker Nebraskamarker, United Statesmarker
In Development
Cigar lakemarker Saskatchewanmarker, Canadamarker
Inkai Kazakhstanmarker


Mills
Name Location
Key Lakemarker Saskatchewanmarker, Canadamarker
Rabbit Lakemarker Saskatchewanmarker, Canadamarker


Fuel Production
Name Location
Port Hope Refinery Ontariomarker, Canadamarker
Blind Rivermarker conversion facility Ontariomarker, Canadamarker


Power Generation
Name Location
Bruce Power Ontariomarker, Canadamarker


Corporate governance

Current members of the board of directors of Cameco Corporation are:



See also



References

  1. Port Hope Community Health Concerns Committee
  2. Port Hope Families Against Radiation Exposure


External links




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