Quarterly Reports - 2010 - Q4

  • best safety performance in our history
  • uranium production 10% higher than 2009
  • continued to ramp up production at Inkai and exceeded 2009 production
  • completed dewatering the underground at Cigar Lake
  • extended Rabbit Lake's expected mine life by two years to 2017

Cameco (TSX: CCO; NYSE: CCJ) today reported its consolidated financial and operating results for the fourth quarter ended December 31, 2010 and for the year.

"Cameco had an excellent year in 2010," said CEO Jerry Grandey. "We increased production, lowered uranium unit costs, and substantially raised our dividend. We also achieved the best safety record in our history."

"The market ended the year very strongly, as China signed significant long-term uranium purchasing agreements and several countries indicated their intentions to build more nuclear reactors. Our company is well-positioned to prosper from the growing need for clean energy now and in the future. We remain committed to our strategy of doubling production to 40 million pounds by 2018."