Learn how uranium is mined, milled and processed at Cameco
In Uranium Part 2 - watch how uranium is turned into fuel at our fuel manufacturing facilities in Ontario.
Video courtesy of How It's Made, a Discovery Communications, Science Channel program
Cameco is a prominent supplier of uranium processing services required to produce fuel for the generation of clean electricity. We operate the world's largest commercial refinery in Blind River, have about 21% of the world UF6 primary conversion capacity in Port Hope, and are a leading manufacturer of fuel assemblies and reactor components for CANDU reactors at our facilities in Port Hope and Cobourg.
Our focus is on cost-competitiveness and operational efficiency. Our fuel services segment is strategically important because it helps support the growth of the uranium segment. Offering a range of products and services to customers helps us broaden our business relationships and expand our uranium market share.
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2022 Q1 Update
Fuel services produced 4.1 million kgU in the first quarter, 2% higher than the same period last year.
We expect to produce between 12.5 million and 13.5 million kgU in 2022, assuming no production disruptions due to the COVID-19 pandemic or other causes.
In February 2022, the Canadian Nuclear Safety Commission (CNSC) granted our Blind River refinery a 10-year operating licence, which will expire in February 2032.
In February 2022, the CNSC granted a one-year extension to the licence for CFM. We asked for this extension with the intention to separate the timing of this process from the Blind River Refinery relicencing efforts. A renewal application has been submitted for a 20-year licence which will be decided upon in early 2023. We do not expect any interruption or significant risks from this process.
The current collective bargaining agreement with the unionized employees at our Port Hope conversion facility expires on June 30, 2022. There is a risk to our production if we are unable to reach an agreement and there is a labour disruption.
Cameco's Blind River operation is the world's largest uranium refinery producing an intermediate product in the nuclear fuel cycle.
The Port Hope Conversion Facility provides uranium dioxide (UO2) and uranium hexafluoride (UF6) conversion services for nuclear operators around the world.
Cameco Fuel Manufacturing produces fuel bundles for CANDU reactors and also provides reactor components and consulting services to CANDU operators around the world.