Cameco Customers

We sell uranium and fuel services directly to nuclear utilities around the world as uranium concentrates, UO2 and UF6, conversion services, or fuel fabrication. We have a solid portfolio of long-term sales contracts that reflect the long-term, trusting relationships we have with our customers. We sell uranium and fuel services products to nuclear utilities in 16 countries.

Uranium

Customers: 

39 nuclear utilities worldwide

  • 38% of volume to Americas (US, Canada, Latin America)
  • 22% of volume to Asia
  • 40% of volume to Europe
  • five largest customers account for 56% of commitments

Commitments:

As of December 31, 2025, we have executed contracts to sell about 230 million pounds of U3O8 with 39 customers worldwide in our uranium segment.

 

 Uranium Customers
Americas38
Europe40
Asia22

Conversion – UF6

Customers:

33 nuclear utilities worldwide

  • 43% of volume to Americas (US, Canada, Latin America)
  • 9% of volume to Asia
  • 48% of volume to Europe
  • five largest customers account for 53% of commitments

Commitments:

As of December 31, 2025, we have executed contracts to sell about 83 million kilograms as UF6 conversion with 33 customers worldwide in our fuel services segment. 

Conversion – UO2 and UO3

Cameco is a leading supplier of uranium dioxide (UO2) used by the Canadian operators of CANDU heavy water reactors. Cameco provides intermediate fuel services product, uranium trioxide (UO3), through our Blind River refinery – the world's largest uranium refinery.

Fuel Manufacturing

Cameco is one of two nuclear fuel manufacturers in Canada, and the largest Canadian-based supplier of reactor components to CANDU operators in Canada.

Customers: 

  • utilities operating CANDU reactors
     

Products:

  • finished fuel for CANDU reactors
  • specialty alloy products for various CANDU reactor applications
     

Capacity:

  • 1.65 million KgU as UO2 pellets per year

 

 Conversion Customers
Americas43
Europe48
Asia9