Cameco Restarting Cigar Lake Mine in April - Seite 2

Cameco continues to deliver into its contract portfolio and its strong balance sheet has provided the company with the financial capacity to successfully manage the production disruption at Cigar Lake. As of December 31, 2020, Cameco had $943 million in cash and short-term investments and a $1 billion undrawn credit facility.

The Cigar Lake operation is owned by Cameco (50.025%), Orano Canada Inc. (37.1%), Idemitsu Canada Resources Ltd. (7.875%) and TEPCO Resources Inc. (5.0%) and is operated by Cameco.

Profile

Cameco is one of the largest global providers of the uranium fuel needed to energize a clean-air world. Our competitive position is based on our controlling ownership of the world’s largest high-grade reserves and low-cost operations. Utilities around the world rely on our nuclear fuel products to generate power in safe, reliable, carbon-free nuclear reactors. Our shares trade on the Toronto and New York stock exchanges. Our head office is in Saskatoon, Saskatchewan.

Caution Regarding Forward-Looking Information and Statements

This news release includes statements and information about our expectations for the future, which we refer to as forward-looking information. Forward-looking information is based on our current views, which can change significantly, and actual results and events may be significantly different from what we currently expect.  

Examples of forward-looking information in this news release include: our plan to restart production at Cigar Lake in April 2021; our views regarding the availability of our workforce and the ability of Cigar Lake to operate safely and sustainably; our intention to continue monitoring the COVID-19 case counts and the success of the vaccine rollout, and to continue dialogue with public health authorities and northern Saskatchewan leaders; the factors impacting our ability to update our outlook for 2021; our intention to purchase material to meet committed deliveries; and our intention to take further action if necessary if we feel our ability to operate safely is compromised due to the pandemic. Material risks that could lead to different results include: our plans to restart production at Cigar Lake may be delayed or may not succeed for any reason, including delays in remobilizing our workforce; we may not be able to monitor developments in the COVID-19 case counts, the success of the vaccine rollout or other risks associated with the pandemic due to a lack of available information, or for other reasons; our ability to update our outlook for 2021 may be delayed by other factors; our intention to purchase material to meet committed deliveries may be impacted by market conditions; and we may not successfully be able to take further action in response to increasing risks. In presenting this forward-looking information, we have made material assumptions which may prove incorrect, including assumptions regarding the availability of our workforce and other factors which may affect the timing of our planned restart of production at Cigar Lake; assumptions regarding our ability to monitor and respond to any increase in risks associated with the pandemic; our ability to purchase material needed to meet committed deliveries; and our ability to update our outlook for 2021. Forward-looking information is designed to help you understand management’s current views of our near-term and longer-term prospects, and it may not be appropriate for other purposes. We will not necessarily update this information unless we are required to by securities laws.