THE RIGHT STRATEGY
Cameco's strategy is focused on taking advantage of the long-term growth we see coming in our industry, while maintaining the ability to respond to market conditions as they evolve. Our strategy is to profitably produce from our tier-one assets at a pace aligned with market signals in order to increase long-term shareholder value, and to do that with a focus on safety, people and the environment.
We have world class assets that are the foundation of our strategy, providing an extensive base of mineral reserves and resources and diversified sources of supply. These include our tier-one operations at McArthur River/Key Lake, the largest uranium operation in the world, and Cigar Lake, the highest grade uranium deposit in the world, as well as Inkai in Kazakhstan. These assets are complemented by participation in other parts of the nuclear fuel cycle, producing fuel and components for reactors around the world.
* All numbers 100% basis
Reactors are being built all over the world — in China, India, Russia and the US, to name a few. Almost sixty of those are under construction right now. Over the next 10 and 20 years, we expect to see a level of growth in new reactor construction we haven’t seen in this industry for many years.
EXPECTED URANIUM SUPPLY-DEMAND GAP
Annual uranium consumption is expected to increase from 160 million pounds today to 220 million pounds per year by 2025. This is significant growth, and it is expected to occur at a time when supply may not be able to keep up. Today, projects are being delayed and cancelled as uranium prices remain at a level too low to make development of many projects economical. Adding to the challenge, secondary supplies continue to diminish. Together, the growth in demand and challenges to supply point to a possible supply-demand gap over the long term.
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.