Measuring Our Results

There is no finish line when it comes to delivering on our strategic goals. We have a long-term commitment to constantly measure, evaluate and improve.

Each year, we set corporate objectives that are aligned with our strategic plan. These objectives fall under our four measures of success, and performance against specific targets under these objectives forms the foundation for a portion of annual employee and executive compensation. See our most recent management proxy circular for more information on how executive compensation is determined.

Outstanding financial performance

2016 Objectives Results
Earnings measures Did not achieve
  • Achieve targeted adjusted net earnings and cash flow from operations.
  • adjusted net earnings was below the minimum target
  • cash flow from operations was below the minimum target
Capital management measures Achieved
  • Execute capital projects within scope, cost and schedule.
  • cost performance was under budget (better than the target)
  • ​project milestones were achieved largely on schedule
Cigar Lake measure Exceeded
  • Achieve daily production rate.
  • the average daily production rate mined from Cigar Lake in 2016 was higher than the target

Safe, healthy and rewarding workplace

2016 Objectives Results
Workplace safety measures Partially achieved
  • Strive for no injuries at all Cameco-operated sites. Maintain a long-term downward trend in combined employee and contractor injury frequency and severity, and radiation doses.
  • injury rates were stable but did not meet one of the two planned reduction targets for the year
  • average radiation doses remained low and stable
Rewarding workplace measures Partially achieved
  • Attract and retain the employees needed to support operations.
  • diversity and inclusion strategy development milestones were achieved on schedule
  • turnover rate for new hires during the first year of employment was higher than the target (higher turnover)

Clean environment

2016 Objectives Results
Environmental performance measures Achieved
  • Achieve divisional environmental aspect improvement targets.
  • performance was within the targeted range
  • there were no significant environmental incidents in 2016

Supportive communities

2016 Objectives Results
Stakeholder support measures Exceeded
  • Implement Collaboration Agreements by supporting northern business development opportunities and build corporate reputation.
  • sourcing of northern services from Northern Saskatchewan vendors was above the target
  • sourcing of capital projects construction services from Northern Saskatchewan vendors was above the target
  • public support index scoring was slightly above our target

Detailed results for our 2016 corporate objectives and the related targets will be provided in our 2017 management proxy circular prior to our Annual Meeting of Shareholders in May, 2017.

2017 Objectives

Outstanding financial performance

  • Achieve targeted adjusted net earnings and cash flow from operations.

Safe, healthy and rewarding workplace

  • Improve workplace safety performance at all sites.

Clean environment

  • Improve environmental performance at all sites.

Supportive communities

  • Build and sustain strong stakeholder support for our activities.

Caution about Forward-Looking Information

Please click here for additional information about the assumptions applied in making the forward-looking statements on this page and the factors that could cause results to differ materially.