One of the largest global providers of uranium, Cameco has released its quarter four report of results for 2022.
Tim Gitzel, Cameco President and CEO, says 2022 was a transformative year for the company. The year saw a record number of contracts signed, and the company had an ongoing focus on the climate-crisis, as well as security of supply due to 2022’s geopolitical events. The company was not only able to continue to operate at the Cigar Lake mine, but they also increased their ownership to 54.5 per cent.

Another highlighted development from 2022 was Cameco’s supply contract with Ukraine. Once finalized, the deal would allow Cameco to provide Ukraine’s nine Energoatom reactors with 67 million pounds of Uranium for the next 12 years. Gitzel adds that this contract would be the single largest supply contract in Cameco’s history. He says the deal is more than just a financial transaction, as the company has been working with Ukraine since 2018 and stands with them in their battle to diversify their energy source away from Russia.