Growing Our Reserve Base

Uranium exploration now underway around the world will fuel the global resurgence of nuclear energy. Cameco's leading uranium exploration program seeks new discoveries to strengthen our base of reserves and sustain our position as the world's leading producer. Our strategy applies the strength of an exceptional team as well as our global reputation. In 2007 we continued to broaden and diversify our program, moving into new regions and building expertise in different deposit types. Through strategic alliances and equity investments with promising junior companies that give us rights to earn majority interests in new developments, we expanded the reach and potential of our exploration investment.

Nuclear Resurgence

Nuclear energy is resurgent. With global electricity demand expected to double by 2030, nuclear energy is an increasingly attractive option due to its environmental and energy-security advantages. Countries with established nuclear programs, including the US, the UK and Canada, are seeking to replace aging reactors and expand nuclear capacity. There are currently 439 reactors operating around the world and a total of 96 new reactors under construction and planned over the next 10 years. With even more on the drawing board, strong demand for uranium is expected for decades to come.

World Nuclear Reactors*