Profile: Cameco Corp (CCJ)

Cameco Corporation (Cameco), incorporated on June 19, 1987, is engaged in the exploration for and the development, mining, refining, conversion and fabrication of uranium for sale as fuel for generating electricity in nuclear power reactors in Canada and other countries. Cameco has a 31.6% interest in Bruce Power L.P. (BPLP), which operates the four Bruce B nuclear reactors in Ontario. Cameco has three reportable segments: uranium, fuel services and electricity. In January 2013, the Company acquired NUKEM Energy GmbH.

Uranium

The uranium segment involves the exploration for, mining, milling, purchase and sale of uranium concentrate. Its product include uranium concentrates. The Company’s operating properties include McArthur River and Key Lake, Saskatchewan; Rabbit Lake, Saskatchewan; Smith Ranch-Highland, Wyoming; Crow Butte, Nebraska, and Inkai, Kazakhstan. Its development project includes Cigar Lake, Saskatchewan. Its projects under development include Inkai blocks 1 and 2, Kazakhstan; Inkai block 3, Kazakhstan; McArthur River extension, Saskatchewan; Kintyre, Australia, and Millennium, Saskatchewan.

Fuel Services

The fuel services segment involves the refining, conversion and fabrication of uranium concentrate and the purchase and sale of conversion services. The Company’s products include uranium trioxide; uranium hexafluoride; uranium dioxide, and fuel bundles, reactor components and monitoring equipment used by Candu reactors. Its operations include Blind River refinery, Ontario; Port Hope conversion facility, Ontario; Cameco Fuel Manufacturing Inc., Ontario, and a toll conversion agreement with Springfields Fuels Ltd. The Company has a 24% interest in Global Laser Enrichment (GLE) in North Carolina, with General Electric and Hitachi.

Electricity

The electricity segment involves the generation and sale of electricity. The Company generates electricity through its 31.6% interest in the Bruce Limited Partnership (BPLP), which operates four nuclear reactors at Bruce B generating station in Southern Ontario. As of December 31, 2011, the Company had capacity of 3,260 megawatts. The Company also has agreements to manage the procurement of fuel and fuel services for BPLP, including uranium concentrates, conversion services and fuel fabrication services.