Cameco Fuel Services Brochure

Blind River Port Hope Springfields Fuels Ltd.Growth StrategyCameco is pursuing a strategy to build upon our competitive advantage in nuclear fuel services. We are working to maintain our position as a low-cost producer, expand our market position and maintain supply flexibility. We are now a leading conversion supplier to the world and participate in all stages of the fuel cycle for Canada’s reactor fleet. We mine, refine and convert uranium, manufacture reactor-ready fuel and reactor component parts and generate electricity through our 31.6% interest in the Bruce Power Limited Partnership. In the future, we intend to expand or build new production capacity in fuel processing. With prospects for nuclear energy improving globally, Cameco is well positioned for continued growth.A world leader in uranium processingCameco Fuel ServicesA U G U S T 2 0 1 3Cameco is one of the world’s largest uranium producers.Cameco is a major supplier of uranium processing services required to produce fuel for the generation of clean electricity. Through our Canadian refining and conversion operations, and a toll-processing agreement with Springfields Fuels Ltd., in the United Kingdom, Cameco is the world’s largest conversion supplier, controlling about 25% of the world conversion capacity. We are the world’s only commercial supplier of natural UO2 and provide fuel bundles, reactor components and monitoring equipment used by CANDU reactors. The products of Cameco’s refining, conversion and fuel manufacturing operations are used exclusively for the generation of electricity by nuclear power plants.Fuelling clean electricity generationFuel Services OperationsRefining ConversionBlind River, Ontario Port Hope, OntarioBlind River is the world’s largest capacity uranium refinery. Uranium processed at Port Hope fuels Canada’s entire reactor fleet. Cameco’s Blind River operation is the world’s largest uranium refinery. The plant processes uranium concentrate from mines around the world, including Canada, the US and Australia to produce a high-purity uranium trioxide (UO3) powder. This product is shipped to Cameco’s Port Hope conversion facility as well as other conversion facilities in the US and Europe for further processing.Location Blind River, OntarioOwnership 100% owned and operated by CamecoLicensed Capacity 24 million kgU as UO3 per yearEmployment About 150 peopleLocation Port Hope, OntarioOwnership 100% owned and operated by CamecoLicensed Capacity UF6 – 12.5 million kgU per year UO2 – 2.8 million kgU per yearEmployment About 390 peopleCameco’s Port Hope facility converts refined UO3 to new chemical forms needed to produce fuel for electricity generation. The plant uses separate processes to produce natural uranium dioxide (UO2) to fuel Canadian-designed CANDU reactors and uranium hexafluoride (UF6) to feed enrichment plants in the US and Europe that produce the fuel for light water reactors.Port Hope is also the base for Cameco’s technology group research centre, which is engaged in research to maintain Cameco’s position as a leading supplier of uranium concentrates, refining and conversion services.2012 Production 13.1 million kgU as UO3 2012 Conversion & Fuel Manufacturing Production 14.2 million kgU** Figure includes combined Port Hope UF6 and UO2, Springfields UF6 and Cameco Fuel Manufacturing fuel bundles.Fuel ManufacturingPreston, Lancashire, UK Port Hope/Cobourg, OntarioSpringfields is the world’s most modern conversion facility. Cameco is one of two Canadian reactor fuel manufacturers.Location Preston, Lancashire, UKOwnership Cameco controls the production capacity of the plant through a 10-year toll-processing agreement (2006-2016)Licensed Capacity 6 million kgU as UF6 per yearLocation Port Hope/Cobourg, OntarioOwnership 100% owned and operated by CamecoLicensed Capacity 1.2 million kgU as UO2 as finished bundlesEmployment About 270 peopleCameco has secured most of the production capacity of the Springfields conversion facility in the United Kingdom through a 10-year toll-processing agreement. Constructed in 1993, the Springfields plant is the world’s newest conversion facility. The agreement allows Cameco to increase uranium hexafluoride (UF6) sales and utilize excess capacity at its Blind River refinery in Ontario. Under the agreement, Springfields Fuels Ltd. can process up to 5 million kgU of uranium trioxide (UO3) from Blind River to UF6. Cameco markets UF6 from Springfields to its customers around the world.Cameco manufactures fuel bundles for CANDU reactors at a plant in Port Hope, Ontario. Uranium from the Port Hope conversion facility is pressed into pellets, sintered, ground and fitted into zirconium tubes. The tubes are then sealed and assembled into fuel bundles ready for insertion in CANDU reactors. The zirconium tubes are supplied by a Cameco plant at nearby Cobourg, Ontario that also constructs components for nuclear reactors and speciality alloy products for a variety of applications.2012 Conversion & Fuel Manufacturing Production 14.2 million kgU** Figure includes combined Port Hope UF6 and UO2, Springfields UF6 and Cameco Fuel Manufacturing fuel bundles.Cameco mines and mills uranium at its operations in Canada, the US and Kazakhstan. Uranium is packaged in steel drums and shipped to Cameco’s refinery at Blind River, Ontario.The Blind River refinery processes uranium from mines around the world. The refining process removes impurities and changes the chemical form to uranium trioxide (UO3), a stable compound that can be shipped safely to other sites for further processing. The majority of Blind River’s production is shipped to Cameco’s Port Hope conversion facility and to Springfields Fuels Ltd. in the United Kingdom for conversion.The Springfields conversion facility processes UO3 from Cameco’s Blind River refinery to produce uranium hexafluoride (UF6), the feedstock for enrichment plants that prepare uranium for use as fuel in light water reactors. UF6 produced at Springfields is shipped to other plants in Europe for enrichment.Cameco’s Port Hope facilities convert UO3 to natural uranium dioxide (UO2) – the fuel for Canadian nuclear power plants – as well as UF6. UO2 from Port Hope is shipped in steel drums to fuel manufacturers who prepare reactor-ready fuel bundles. UF6 is shipped in special transport cylinders to enrichment plants in the US and Europe.UO2 from the Port Hope conversion facility is packaged into reactor-ready fuel bundles in a separate plant in Port Hope.12345ElectricityGenerationSustainable DevelopmentWe want to bring the multiple benefits of clean, safe, reliable nuclear energy to the world, and are committed to delivering our products responsibly.Our goal is to be recognized globally as a leader in corporate social responsibility by proactively addressing the social, environmental and financial aspects of our business. We use four categories to define our objectives and assess our results:A Safe, Healthy and Rewarding WorkplaceIn the mining and nuclear industries, the safety of workers and members of the public is paramount at every stage of operations – from exploration, development and operation, to decommissioning and reclamation.A Clean EnvironmentCameco operates its business with respect and care for the local and global environment. We strive to be a leader in environmental best practices and performance by complying with regulatory requirements, and moving beyond them where possible.Supportive CommunitiesCameco needs the trust and support of communities, indigenous people, governments and regulators. It is essential to our operations and we earn it by being a good corporate citizen. We build and sustain the trust of our local communities through a focused corporate social responsibility strategy that includes five key elements: workforce and business development, community engagement and investment, and environmental stewardship.Outstanding Financial PerformanceLong-term financial stability and profitability are essential to our sustainability as a company, and to the support we can bring to the communities we operate in. We also firmly believe that sound governance is the foundation for strong corporate performance.For more information about Cameco’s sustainable development activities, please visit our website at http://www.cameco.com/responsibility/sustainable_development13-166-025Fuel Services Division205 Peter StreetPort Hope, ONCanadaL1A 3V6Phone: 905-885-1129Fax: 905-885-0162cameco.com