Saskatchewan and Cameco are a huge part of the solution to combat climate change and transition to clean energy while ensuring energy security around the world. That’s according to Cameco’s vice-president of marketing, David Doerksen, who says the spotlight on nuclear at the United Nations conference in Dubai last year is the latest signal that the industry is undergoing substantial transformation.

He explains that in the past decade there was an oversupply of uranium in the market which meant having to move the McArthur River/Key Lake Mine and Mill and the Cigar Lake Mine into care and maintenance mode and laying off workers for periods of time. He says, “McArthur River and Key Lake are back – restarted production, planning to make their production targets this year. Cigar lake continues to run at full capacity, and we are looking at ways to extend and increase our mining capacity at these two world class mining operations.”  He adds that Cameco is seeing interest in uranium fuel like never before, as utilities look to cover their long-term fuel requirements.

Cameco’s portfolio for long-term contracts will underwrite production for many years to come. Doerksen says, “These are contracts with countries and companies around the world that are looking to reduce risk in their supply chain, and they are looking to eliminate reliance on unstable regions, where their supply may come from.”