UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
Under the Securities Exchange Act of 1934
For the month of July, 2019
Cameco Corporation
(Commission file No. 1-14228)
2121-11th Street West
Saskatoon, Saskatchewan, Canada S7M 1J3
(Address of Principal Executive Offices)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F ☐ Form 40-F ☒
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes ☐ No ☒
If Yes is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b):
Exhibit Index
Exhibit No. |
Description |
Page No. | ||||
1. | Press Release dated July 13, 2019 Section 232 Decision | |||||
2. | Press Release dated July 13, 2019 TEPCO Contract Dispute Ruling |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Date: July 15, 2019 | Cameco Corporation By: | |||
Sean A. Quinn | ||||
Sean A. Quinn | ||||
Senior Vice-President, Chief Legal Officer and Corporate Secretary |
Exhibit 1
TSX: CCO NYSE: CCJ |
website: cameco.com currency: Cdn (unless noted) | |||
2121 11th Street West, Saskatoon, Saskatchewan, S7M 1J3 Canada
Tel: 306-956-6200 Fax: 306-956-6201
Cameco Pleased with Section 232 Decision on U.S. Uranium Imports
Saskatoon, Saskatchewan, Canada, July 13, 2019 . . . . . . . . . . . . .
Cameco (TSX: CCO; NYSE: CCJ) today responded to the decision by President Donald Trump to implement no new trade restrictions on uranium imports into the United States following the Section 232 investigation into the matter.
We are pleased with this decision, said Cameco President and CEO Tim Gitzel. Uranium supplied by Cameco or Canada for zero-carbon energy generation has never been a threat to U.S. national security, and we worked hard to emphasize that distinction throughout this process.
The President also announced the establishment of a United States Nuclear Fuel Working Group to further analyze the state of U.S. nuclear fuel production and report back within 90 days with findings and recommendations to enhance domestic capabilities if deemed to be necessary. This initiative may broaden the range of options that could be considered to support the U.S. uranium industry beyond the trade-related remedies permitted under Section 232.
Cameco will participate in the efforts of this working group in any way we can, Gitzel said. As a long-term commercial producer, employer, supplier and investor in the U.S. uranium and nuclear energy sectors, we want to see this industry succeed and grow.
With operations on both sides of the border, Cameco also sees tremendous value in increasing cooperation between the United States and Canada to address critical mineral issues and strengthen security of supply on a North American, rather than strictly national, basis, Gitzel said. The recent commitment by President Trump and Prime Minister Trudeau to develop a joint action plan on critical minerals collaboration is an excellent initiative, and we see uranium being a key component of that strategy.
The United States is the worlds largest nuclear energy market and Camecos largest customer by country, accounting for about 25% of our total sales by volume in 2018. Over the past 30 years we have supplied uranium to every owner of a U.S. nuclear power plant. In addition to being the largest uranium producer in Canada, Cameco was the largest uranium producer in the United States for most of the past two decades.
The uncertainty resulting from this investigation has hung over the uranium industry for much of the past year, compounding an already challenging global market. While some uncertainty will remain until the efforts of the working group are complete, the Presidents decision is overall a positive outcome.
Profile
Cameco is one of the worlds largest providers of uranium fuel. Our competitive position is based on our controlling ownership of the worlds largest high-grade reserves and low-cost operations. Our uranium products are used to generate clean electricity in nuclear power plants around the world. Our shares trade on the Toronto and New York stock exchanges. Our head office is in Saskatoon, Saskatchewan.
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Investor inquiries: | Rachelle Girard | 306-956-6403 | ||||||
Media inquiries: | Jeff Hryhoriw | 306-385-5221 |
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Exhibit 2
TSX: CCO NYSE: CCJ |
website: cameco.com currency: Cdn (unless noted) | |||
2121 11th Street West, Saskatoon, Saskatchewan, S7M 1J3 Canada
Tel: 306-956-6200 Fax: 306-956-6201
Arbitration Tribunal Rules in Favour of Cameco Inc. in TEPCO Contract Dispute
Saskatoon, Saskatchewan, Canada, July 13, 2019 . . . . . . . . . . . . .
Cameco (TSX: CCO; NYSE: CCJ) announced today that a tribunal of international arbitrators (Tribunal) has ruled in favour of Cameco Inc. in its contract dispute with Tokyo Electric Power Company Holdings, Inc. (TEPCO). The Tribunal rejected TEPCOs assertion that it had the right to terminate its uranium supply agreement alleging force majeure, and awarded damages to Cameco Inc. of $40.3 million (US). Damages were based on the Tribunals interpretation of losses under this supply agreement.
We are pleased that the Tribunal agreed that TEPCO was not entitled to terminate the supply agreement, but we are disappointed with the amount of damages awarded, said Cameco President and CEO Tim Gitzel. However, remember we had already removed this contract from our financial outlook. So, overall the result is positive for us.
The supply agreement does not allow for an appeal of the Tribunals decision. The decision of the Tribunal is subject to a confidentially order which limits the information that we are able to disclose. Cameco Inc.s claim for damages was about $700 million (US).
Profile
Cameco is one of the worlds largest providers of uranium fuel. Our competitive position is based on our controlling ownership of the worlds largest high-grade reserves and low-cost operations. Our uranium products are used to generate clean electricity in nuclear power plants around the world. Our shares trade on the Toronto and New York stock exchanges. Our head office is in Saskatoon, Saskatchewan.
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Investor inquiries: | Rachelle Girard | 306-956-6403 | ||||||
Media inquiries: | Jeff Hryhoriw | 306-385-5221 |