Latest news with #TimGitzel
CTV News
10 hours ago
- Business
- CTV News
Sask. premier, industry leaders, highlight nuclear energy among tariff concerns
As Hallee Mandryk tells us, Premier Moe answered questions alongside industry leaders about the importance of nuclear energy amid U.S. tariffs. The future of nuclear energy in the midst of a trade war proved to be a particularly timely discussion at the Midwestern Legislative Conference (MLC) Tuesday morning. Lawmakers from four provinces and eleven states have gathered in Saskatoon for the annual event, and the 'Fueling North America's Energy Sector' panel featured industry leaders and lawmakers discussing the future of energy. '[There's] no better place to have that broader, longer-term discussion on our collective energy security. We will find our way through this trade tariff discussion. I'm concerned that it's going to get tougher before it gets better,' Premier Scott Moe told media following the panel. 'But we need to find our way through it so that we can get back to doing what we do best, and that's trade with products north and south of the 49th parallel.' Much of the panel was spent discussing how North America is shifting towards nuclear energy. Cameco CEO Tim Gitzel was also on the panel, and shared how while the tariffs are a barrier, they are not a roadblock. 'We know we need electricity whether there's tariffs or not. The world and North America needs a lot more electricity, and so we continue to work on that. And, we're getting great cooperation between Canada and the U.S. on nuclear electricity, and so we'll continue,' Gitzel said. While Canada/U.S. relations have been strained since President Donald Trump imposed tariffs, the conference provided an opportunity for officials on both sides of the border to discuss the relationship between the two countries. 'For many of us, it's been embarrassing ... kind of horrific knowing that for years I've spent my whole life 60 years we have seen Canada as a very close ally,' Ann Johnson Stewart, a state senator from Minnesota said. 'Many of my friends are from Canada. We go to Canada. You know, I live in Minnesota, so I really appreciated what [the] premier said about we just need to push forward.' The state senator highlighted that this conference is an opportunity to build cross border relationships away from the shadow of the White House. 'We need to get back to ignoring the politics and ridiculous things coming out of Washington and work forward towards more collaboration, especially around energy. Johnson Stewart added. Both industry leaders and politicians agreed that the demand for energy is as important as ever, thanks to the rise of new technology such as artificial intelligence – which requires an immense amount of electricity. 'You need baseload 24/7 reliable power – and that's got to be hydro or nuclear or gas and so we're going to need all of the above,' Gitzel said. The discussion highlighted a desire for nuclear energy not only in Saskatchewan – but also for North America to become the main producer of nuclear technology and fuel for other nations. 'This is what makes free and free and fair trade between Canada and the U.S. such an advantage for us when it comes to determining our own future with energy security or general security,' Moe noted. '[But it] also provides us with the opportunity then to cost effectively export this type of technology to places like Western Europe where they're trying to move away from Russian reactors.'
Yahoo
26-06-2025
- Business
- Yahoo
Cameco Releases 2024 Sustainability Report
SASKATOON, Saskatchewan, June 26, 2025--(BUSINESS WIRE)--Cameco (TSX: CCO; NYSE: CCJ) released its 2024 Sustainability Report today, which communicates the initiatives and key metrics that demonstrate Cameco's progress to date and the continual advancement of our sustainability reporting. "As a responsible company focused on creating long-term, sustainable value for all our stakeholders, we are taking the appropriate actions and making decisions to look after our employees, support our communities, and reduce our environmental impact," Cameco President and CEO Tim Gitzel said. Cameco is committed to transparency and accountability for quality reporting on sustainability matters to our providers of capital, customers, employees, regulators, local Indigenous Peoples, communities around our operations, and other stakeholders. For more than 15 years, we have disclosed our sustainability performance through an extensive range of environment, safety, social, economic, and governance indicators. Sustainability highlights from 2024 include: Completing physical climate risk assessments at our U.S. operations in Nebraska and Wyoming; Launching a pre-trades training program for Residents of Saskatchewan's North, where ten female students began courses on industrial and heavy-duty mechanics, carpentry, electrical, plumbing and welding; Removing the Port Hope legacy UF6 plant, where over 125,000 hours were spent over five years to address legacy waste inherited from historic operations — a major milestone of our Vision in Motion project; Achieving our goal to publish our Scope 3 emissions value and quantification method, as well as engage with value chain partners that together make up 59% of our total Scope 3 emissions, to better understand emission-reducing initiatives in our value chain; Acknowledging 51% of our workforce at our northern Saskatchewan operations self-identified as Indigenous; and, Celebrating that 71% of all our spending on services at our northern Saskatchewan mine sites was with northern-owned businesses. "Looking forward, I want us to continue to safely produce uranium fuel in a way that our people are proud of. We remain committed to pursuing sustainability and providing a respectful workplace that is reflective of the communities where we operate," Gitzel said. In this report, Cameco has incorporated relevant Sustainability Accounting Standards Board (SASB) performance indicators and continued its progress toward integrating the recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD). The report can be downloaded or read online at Cameco's board of directors and executive team oversee the company's sustainability strategy, execution, and reporting. In addition to SASB and TCFD, the report contains other key performance indicators that we believe have an important bearing on Cameco's long-term sustainability, some of which are unique to our company and some of which are based on the GRI Standards framework that we used as the basis of our sustainability reporting prior to 2020. For the third year, we have obtained a third-party limited assurance report on selected performance indicators. Profile Cameco is one of the largest global providers of the uranium fuel needed to power a secure energy future. Our competitive position is based on our controlling ownership of the world's largest high-grade reserves and low-cost operations, as well as significant investments across the nuclear fuel cycle, including ownership interests in Westinghouse Electric Company and Global Laser Enrichment. Utilities around the world rely on Cameco to provide global nuclear fuel solutions for the generation of safe, reliable, carbon-free nuclear power. Our shares trade on the Toronto and New York stock exchanges. Our head office is in Saskatoon, Saskatchewan, Canada. As used in this news release, the terms we, us, our, the Company and Cameco mean Cameco Corporation and its subsidiaries unless otherwise indicated. Caution about forward-looking information This news release includes statements considered to be forward-looking information or forward-looking statements under Canadian and U.S. securities laws (which we refer to as forward-looking information), including: our focus on creating long-term, sustainable value for all our stakeholders; our goals of looking after our employees, supporting our communities and reducing our environmental impact; our commitment to continual advancement of our sustainability reporting, including transparency and accountability for quality reporting on sustainability matters; our intention to continue to produce uranium fuel safely; our commitment to pursuing sustainability and providing a respectful workplace; and our engagement with value chain partners to better understand emission-reducing initiatives in our value chain. This forward-looking information is based on a number of assumptions, including assumptions regarding our ability to achieve our goals of creating long-term, sustainable value, looking after our employees, supporting our communities and reducing our environmental impact; our ability to maintain quality reporting on sustainability matters; and our ability to achieve safe production of uranium fuel, pursue sustainability and maintain a respectful workplace. This information is subject to a number of risks, including: the risk that we may be unable to achieve our goal of pursuing long-term, sustainable value or meet our uranium fuel production goals; the risk that we may not be able to maintain quality reporting on sustainability matters; and the risk that we may face unexpected challenges or delays in advancing our climate, environmental and social-related goals or that they may not achieve the intended outcomes or results. Additional assumptions and risks are detailed in the Caution About Forward-Looking Information in our Sustainability Report and our most recent annual and quarterly Management's Discussion and Analysis. The forward-looking information in this news release represents our current views, and actual results may differ significantly. Forward-looking information is designed to help you understand our current views and may not be appropriate for other purposes. We will not necessarily update this information unless we are required to by securities laws. View source version on Contacts Investor inquiriesCory Kos306-716-6782cory_kos@ Media inquiriesVeronica Baker306-385-5541veronica_baker@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
National Post
26-06-2025
- Business
- National Post
Cameco Releases 2024 Sustainability Report
Article content SASKATOON, Saskatchewan — Cameco (TSX: CCO; NYSE: CCJ) released its 2024 Sustainability Report today, which communicates the initiatives and key metrics that demonstrate Cameco's progress to date and the continual advancement of our sustainability reporting. Article content 'As a responsible company focused on creating long-term, sustainable value for all our stakeholders, we are taking the appropriate actions and making decisions to look after our employees, support our communities, and reduce our environmental impact,' Cameco President and CEO Tim Gitzel said. Article content Article content Cameco is committed to transparency and accountability for quality reporting on sustainability matters to our providers of capital, customers, employees, regulators, local Indigenous Peoples, communities around our operations, and other stakeholders. Article content For more than 15 years, we have disclosed our sustainability performance through an extensive range of environment, safety, social, economic, and governance indicators. Article content Sustainability highlights from 2024 include: Article content Completing physical climate risk assessments at our U.S. operations in Nebraska and Wyoming; Launching a pre-trades training program for Residents of Saskatchewan's North, where ten female students began courses on industrial and heavy-duty mechanics, carpentry, electrical, plumbing and welding; Removing the Port Hope legacy UF 6 plant, where over 125,000 hours were spent over five years to address legacy waste inherited from historic operations — a major milestone of our Vision in Motion project; Achieving our goal to publish our Scope 3 emissions value and quantification method, as well as engage with value chain partners that together make up 59% of our total Scope 3 emissions, to better understand emission-reducing initiatives in our value chain; Acknowledging 51% of our workforce at our northern Saskatchewan operations self-identified as Indigenous; and, Celebrating that 71% of all our spending on services at our northern Saskatchewan mine sites was with northern-owned businesses. Article content 'Looking forward, I want us to continue to safely produce uranium fuel in a way that our people are proud of. We remain committed to pursuing sustainability and providing a respectful workplace that is reflective of the communities where we operate,' Gitzel said. Article content In this report, Cameco has incorporated relevant Sustainability Accounting Standards Board (SASB) performance indicators and continued its progress toward integrating the recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD). The report can be downloaded or read online at Cameco's board of directors and executive team oversee the company's sustainability strategy, execution, and reporting. In addition to SASB and TCFD, the report contains other key performance indicators that we believe have an important bearing on Cameco's long-term sustainability, some of which are unique to our company and some of which are based on the GRI Standards framework that we used as the basis of our sustainability reporting prior to 2020. For the third year, we have obtained a third-party limited assurance report on selected performance indicators. Article content Profile Article content Cameco is one of the largest global providers of the uranium fuel needed to power a secure energy future. Our competitive position is based on our controlling ownership of the world's largest high-grade reserves and low-cost operations, as well as significant investments across the nuclear fuel cycle, including ownership interests in Westinghouse Electric Company and Global Laser Enrichment. Utilities around the world rely on Cameco to provide global nuclear fuel solutions for the generation of safe, reliable, carbon-free nuclear power. Our shares trade on the Toronto and New York stock exchanges. Our head office is in Saskatoon, Saskatchewan, Canada. As used in this news release, the terms we, us, our, the Company and Cameco mean Cameco Corporation and its subsidiaries unless otherwise indicated. Article content Caution about forward-looking information Article content This news release includes statements considered to be forward-looking information or forward-looking statements under Canadian and U.S. securities laws (which we refer to as forward-looking information), including: our focus on creating long-term, sustainable value for all our stakeholders; our goals of looking after our employees, supporting our communities and reducing our environmental impact; our commitment to continual advancement of our sustainability reporting, including transparency and accountability for quality reporting on sustainability matters; our intention to continue to produce uranium fuel safely; our commitment to pursuing sustainability and providing a respectful workplace; and our engagement with value chain partners to better understand emission-reducing initiatives in our value chain. This forward-looking information is based on a number of assumptions, including assumptions regarding our ability to achieve our goals of creating long-term, sustainable value, looking after our employees, supporting our communities and reducing our environmental impact; our ability to maintain quality reporting on sustainability matters; and our ability to achieve safe production of uranium fuel, pursue sustainability and maintain a respectful workplace. This information is subject to a number of risks, including: the risk that we may be unable to achieve our goal of pursuing long-term, sustainable value or meet our uranium fuel production goals; the risk that we may not be able to maintain quality reporting on sustainability matters; and the risk that we may face unexpected challenges or delays in advancing our climate, environmental and social-related goals or that they may not achieve the intended outcomes or results. Additional assumptions and risks are detailed in the Caution About Forward-Looking Information in our Sustainability Report and our most recent annual and quarterly Management's Discussion and Analysis. The forward-looking information in this news release represents our current views, and actual results may differ significantly. Forward-looking information is designed to help you understand our current views and may not be appropriate for other purposes. We will not necessarily update this information unless we are required to by securities laws. Article content Article content Article content Article content Article content Contacts Article content Investor inquiries Article content Cory Kos 306-716-6782 cory_kos@ Media inquiries Article content
Business Wire
26-06-2025
- Business
- Business Wire
Cameco Releases 2024 Sustainability Report
SASKATOON, Saskatchewan--(BUSINESS WIRE)-- Cameco (TSX: CCO; NYSE: CCJ) released its 2024 Sustainability Report today, which communicates the initiatives and key metrics that demonstrate Cameco's progress to date and the continual advancement of our sustainability reporting. 'As a responsible company focused on creating long-term, sustainable value for all our stakeholders, we are taking the appropriate actions and making decisions to look after our employees, support our communities, and reduce our environmental impact,' Cameco President and CEO Tim Gitzel said. Cameco is committed to transparency and accountability for quality reporting on sustainability matters to our providers of capital, customers, employees, regulators, local Indigenous Peoples, communities around our operations, and other stakeholders. For more than 15 years, we have disclosed our sustainability performance through an extensive range of environment, safety, social, economic, and governance indicators. Sustainability highlights from 2024 include: Completing physical climate risk assessments at our U.S. operations in Nebraska and Wyoming; Launching a pre-trades training program for Residents of Saskatchewan's North, where ten female students began courses on industrial and heavy-duty mechanics, carpentry, electrical, plumbing and welding; Removing the Port Hope legacy UF 6 plant, where over 125,000 hours were spent over five years to address legacy waste inherited from historic operations — a major milestone of our Vision in Motion project; Achieving our goal to publish our Scope 3 emissions value and quantification method, as well as engage with value chain partners that together make up 59% of our total Scope 3 emissions, to better understand emission-reducing initiatives in our value chain; Acknowledging 51% of our workforce at our northern Saskatchewan operations self-identified as Indigenous; and, Celebrating that 71% of all our spending on services at our northern Saskatchewan mine sites was with northern-owned businesses. 'Looking forward, I want us to continue to safely produce uranium fuel in a way that our people are proud of. We remain committed to pursuing sustainability and providing a respectful workplace that is reflective of the communities where we operate,' Gitzel said. In this report, Cameco has incorporated relevant Sustainability Accounting Standards Board (SASB) performance indicators and continued its progress toward integrating the recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD). The report can be downloaded or read online at Cameco's board of directors and executive team oversee the company's sustainability strategy, execution, and reporting. In addition to SASB and TCFD, the report contains other key performance indicators that we believe have an important bearing on Cameco's long-term sustainability, some of which are unique to our company and some of which are based on the GRI Standards framework that we used as the basis of our sustainability reporting prior to 2020. For the third year, we have obtained a third-party limited assurance report on selected performance indicators. Profile Cameco is one of the largest global providers of the uranium fuel needed to power a secure energy future. Our competitive position is based on our controlling ownership of the world's largest high-grade reserves and low-cost operations, as well as significant investments across the nuclear fuel cycle, including ownership interests in Westinghouse Electric Company and Global Laser Enrichment. Utilities around the world rely on Cameco to provide global nuclear fuel solutions for the generation of safe, reliable, carbon-free nuclear power. Our shares trade on the Toronto and New York stock exchanges. Our head office is in Saskatoon, Saskatchewan, Canada. As used in this news release, the terms we, us, our, the Company and Cameco mean Cameco Corporation and its subsidiaries unless otherwise indicated. Caution about forward-looking information This news release includes statements considered to be forward-looking information or forward-looking statements under Canadian and U.S. securities laws (which we refer to as forward-looking information), including: our focus on creating long-term, sustainable value for all our stakeholders; our goals of looking after our employees, supporting our communities and reducing our environmental impact; our commitment to continual advancement of our sustainability reporting, including transparency and accountability for quality reporting on sustainability matters; our intention to continue to produce uranium fuel safely; our commitment to pursuing sustainability and providing a respectful workplace; and our engagement with value chain partners to better understand emission-reducing initiatives in our value chain. This forward-looking information is based on a number of assumptions, including assumptions regarding our ability to achieve our goals of creating long-term, sustainable value, looking after our employees, supporting our communities and reducing our environmental impact; our ability to maintain quality reporting on sustainability matters; and our ability to achieve safe production of uranium fuel, pursue sustainability and maintain a respectful workplace. This information is subject to a number of risks, including: the risk that we may be unable to achieve our goal of pursuing long-term, sustainable value or meet our uranium fuel production goals; the risk that we may not be able to maintain quality reporting on sustainability matters; and the risk that we may face unexpected challenges or delays in advancing our climate, environmental and social-related goals or that they may not achieve the intended outcomes or results. Additional assumptions and risks are detailed in the Caution About Forward-Looking Information in our Sustainability Report and our most recent annual and quarterly Management's Discussion and Analysis. The forward-looking information in this news release represents our current views, and actual results may differ significantly. Forward-looking information is designed to help you understand our current views and may not be appropriate for other purposes. We will not necessarily update this information unless we are required to by securities laws.
Epoch Times
13-05-2025
- Business
- Epoch Times
Cameco CEO to Investors: Look Past Tariff ‘Noise' and Toward Long-Term Uranium Demand
The chief executive of Saskatchewan-based uranium miner Cameco Corp. is encouraging investors to tune out the 'noise' from global trade and geopolitical upheaval and instead focus on the strong outlook for nuclear power demand. 'There is no doubt that those distractions have created new and unexpected risks that must be carefully monitored and diligently managed,' Tim Gitzel told analysts on a conference call to discuss the company's first-quarter results. Canadian uranium is exempt from 10 percent U.S. tariffs on energy imports because it adheres to the free-trade agreement between Canada, the U.S. and Mexico. But on the conference call, Gitzel said 'we know that a lot can change overnight.' Separately, the U.S. administration is also investigating the national security implications of imported uranium and other minerals. After a similar probe during U.S. President Donald Trump's first term in 2019, which ultimately spared uranium, Cameco took steps to protect itself, such as looking at contract terms and delivery timelines. 'Those pre-emptive actions helped us prepare for the more recent threat of tariffs on Canadian nuclear fuel products, and we will continue to adapt accordingly and mitigate such risks in the future,' Gitzel said. 'I'm sure there will be more to come this year as negotiations continue and policies evolve, but two things are certain: There's no substitute for uranium in a nuclear fuel bundle and there's no elasticity to the demand for nuclear fuel. You need it to run your reactors and power your economy, regardless of tariffs or higher cost.' Related Stories 2/20/2025 4/5/2025 Gitzel pointed to a bevy of non-tariffs developments on the global stage that paint a rosier picture for the sector. Reactor operating licences are being extended in the United States, some to 80 years. China approved 10 new reactor builds for the fourth year in a row. And Poland signed an agreement for its first commercial nuclear plant. Yet Gitzel said 70 percent of the uranium supply that reactors around the world will need for the next two decades–more than three billion pounds–has not been purchased under long-term contracts due to the global trade uncertainty. He said Cameco is being patient. 'You can run, but you can't hide,' he said. 'People need uranium to make this whole thing work, and so you can defer and wait and hope for better times, but they have to come to the market.' The World Nuclear Association says Canada is the globe's second-biggest producer of uranium after Kazakhstan. Most of Canada's uranium reserves are in northern Saskatchewan. Earlier Thursday, Saskatoon-based Cameco said it earned a profit attributable to equity holders of $70 million or 16 cents per diluted share for the quarter ended March 31, compared with a loss of $7 million or two cents per diluted share a year earlier. On an adjusted basis, Cameco says it earned 16 cents per diluted share in its latest quarter, up from an adjusted profit of 11 cents per diluted share a year earlier. Revenue for the quarter totalled $789 million, up from $634 million a year earlier. Uranium production totalled six million pounds for the quarter, up from 5.8 million pounds a year earlier, while sales volumes amounted to 6.9 million pounds, down from 7.3 million pounds. Cameco's average realized price for uranium was $89.12 per pound, up from $77.33 a year earlier. Cameco's fuel services business saw production of 3.9 million kilograms, up from 3.7 million a year earlier, while fuel services sales volumes totalled 2.4 million kilograms, up from 1.5 million kilograms. Fuel services reported an average realized price of $56.64 per kilogram, up from $48.36 in the first quarter of 2024.
