Cameco Corporation was awarded the first-ever Aboriginal Business Award at the 25^th Annual Achieving Business Excellence (ABEX) awards held in Regina, Saskatchewan on October 25, 2008.

The Aboriginal Business Award is presented to a business or individual who has demonstrated leadership and commitment to the growth of aboriginal businesses in Saskatchewan. Primary emphasis is given to businesses or individuals with established practices, a record of support, proven accomplishments and a commitment to the highest ethical standards and practices.

Cameco strives to create opportunity for northern residents – the majority of whom are aboriginal – by giving preference to northern companies, giving northern residents priority when hiring, supporting projects and programs in the community and investing in education and training.

"The relationship between Cameco and northern people has developed over 20 years and throughout that time, both have grown. Receiving this award is about local partnership and reaffirms our relationship," said vice-president of corporate social responsibility Gary Merasty. "Throughout our history we have listened to northerners and their needs and the programs that have been designed are collaborative programs that provide the north with the power to succeed."

Cameco's northern preferred supplier program is designed to give preference to northern companies while still maintaining high standards and fair, competitive pricing. By preferring northern companies in purchasing, and working with communities and suppliers to facilitate successful joint ventures, Cameco has helped build successful northern aboriginal companies. Through these companies, northern people have had the opportunity to participate fully in the economic benefits generated by the uranium mining industry. In 2007, Cameco paid over $150 million for services provided by northern businesses.

Through this program, Cameco encourages northern suppliers to adhere to priority recruitment of residents of Saskatchewan's north (RSN). About half of Cameco's northern mine operations, including long-term contractors, are RSN and most of these are aboriginal.

Beyond its northern business initiatives, Cameco is a strong believer in educating and training the future workforce for northern suppliers and Cameco. Annually, Cameco distributes $50,000 to northern students in scholarships for post-secondary education. In 2008, that number was raised to $100,000. As well, Cameco runs a successful summer student program, where northern students are given the opportunity to work at one of Cameco's northern operations in order to receive hands-on experience in the mining industry and in a possible future career.