UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM SD

 

 

SPECIALIZED DISCLOSURE REPORT

 

 

Cameco Corporation

(Exact name of registrant as specified in its charter)

 

 

 

Canada   1-14228   98-0113090

(State or other jurisdiction of

incorporation or organization)

  

(Commission

File Number)

  

(I.R.S. Employer

Identification No.)

2121-11th Street West

Saskatoon, Saskatchewan, Canada

   S7M 1J3
(Address of principal executive offices)   (Zip code)

Heidi Shockey 306-956-6200

(Name and telephone number, including area code, of the person to contact in connection with this report)

 

 

Check the appropriate box to indicate the rule pursuant to which this form is being filed.

 

☐

Rule 13p-1 under the Securities Exchange Act (17 CFR 240.13p-1) for the reporting period from January 1 to December 31,_________.

 

☒

Rule 13q-1 under the Securities Exchange Act (17 CFR 240.13q-1) for the fiscal year ended December 31, 2023.

 

 

 

SECTION 1 - CONFLICT MINERALS DISCLOSURE

Item 1.01 - Conflict Minerals Disclosure and Report

Not applicable.

Item 1.02 – Exhibit

Not applicable

SECTION 2 - RESOURCE EXTRACTION ISSUER DISCLOSURE

Item 2.01 Resource Extraction Issuer Disclosure and Report

Cameco Corporation (the “Company”) is subject to Canada’s Extractive Sector Transparency Measures Act (“ESTMA”). The Company is relying on the alternative reporting provision of Item 2.01 and providing its ESTMA report for the year ended December 31, 2023 to satisfy the requirements of Item 2.01. The Company’s ESTMA report is available on the Company’s website at https://www.cameco.com/sites/default/files/documents/cameco-2023-estma-reporting.pdf and on the Government of Canada’s website at https://natural-resources.canada.ca/our-natural-resources/minerals-mining/
services-for-the-mining-industry/extractive-sector-transparency-measures-act/links-estma-reports/18198. Except as set forth herein, information on the Company’s and the Government of Canada’s websites is not part of or incorporated by reference in this Form SD.

The payment disclosure required by Form SD is included as Exhibit 2.01 to this Form SD.

SECTION 3 – EXHIBITS

Item 3.01. Exhibits

The following exhibit is filed as part of this report.

 

Exhibit
Number		   

Description

2.01    Extractive Sector Transparency Measures Act - Annual Report for the year ended December 31, 2023

SIGNATURES

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.

 

CAMECO CORPORATION    September 25, 2024

(Registrant)

    (Date)

 

By:

   

/s/ Heidi Shockey

Name:

   

Heidi Shockey

Title:

   

Senior Vice-President and Deputy Chief Financial Officer

   
Extractive Sector Transparency Measures Act - Annual Report    
   
Reporting Entity Name                 Cameco Corporation        
   
Reporting Year     From     1/1/2023     To:     12/31/2023   Date submitted    6/13/2024  

Reporting Entities May

Insert Their Brand/Logo here

   
Reporting Entity ESTMA Identification Number      E886600         LOGO        
   

Other Subsidiaries Included

(optional field)

                
                 
   
Not Consolidated                
                 
   
Not Substituted                
                 
   
Attestation by Reporting Entity                
   

In accordance with the requirements of the ESTMA, and in particular section 9 thereof, I attest I have reviewed the information contained in the ESTMA report for the entity(ies) listed above. Based on my knowledge, and having exercised reasonable diligence, the information in the ESTMA report is true, accurate and complete in all material respects for the purposes of the Act, for the reporting year listed above.

    
                 
   
Full Name of Director or Officer of Reporting  Entity      Heidi Shockey   Date   6/13/2024    
Position Title     Senior Vice-President and Deputy Chief Financial Officer    

 
Extractive Sector Transparency Measures Act - Annual Report
Reporting Year     From:     1/1/2023     To:       12/31/2023                  
Reporting Entity Name     Cameco Corporation         Currency of the Report       CAD        

Reporting Entity ESTMA

Identification Number

         E886600                    
Subsidiary Reporting Entities (if necessary)                        
Payments by Payee
Country   Payee Name1    

Departments,

Agency, etc...

within Payee

 that Received 

Payments2

   Taxes     Royalties        Fees       

Production

 Entitlements 

      Bonuses       Dividends     

Infrastructure
 Improvement 

Payments

    

 Total Amount 

paid to Payee

     Notes3,4
                       

Canada

    

 national
government of
Canada		  
 
 		                         3,970,000                                       3,970,000     Payments for regulatory oversight, and radio licenses. Departments include Canadian Nuclear Safety Commission (CNSC), Industry Canada, Environment Canada.
                       

Canada -Saskatchewan

    

 the province
of
Saskatchewan		  
 
 		         7,830,000       69,100,000       4,420,000                                       81,350,000     Payments for property taxes, royalties, highway maintenance, and regulatory oversight. Departments include Ministry of Economy, Ministry of Finance, Ministry of Government Relations, Ministry of Environment, Ministry of Highways & Infrastructure.
                       

Canada -Ontario

    
 the province
of Ontario		  
 		   Ministry
of
Finance		                     50,000                                       50,000     Payments for mandatory hoist rope testing
                       

Canada -Saskatchewan

    

 Athabasca
Community
Trust		  
 
 		                         1,820,000                                       1,820,000     Payments to the trust are attributed to Black Lake Denesuline First Nation, Fond du Lac Denesuline First Nation, Hatchet Lake Denesuline First Nation, northern hamlet of Stony Rapids, northern settlement of Wollaston Lake, northern settlement of Uranium City, and northern settlement of Camsell Portage.
                       

Canada -Saskatchewan

    
 English River
First Nation		  
 		                         500,000                               20,000       520,000     Payments are comprised of contributions stipulated in collaboration agreements with the community. These include payments directly to the community and to a community-owned contractor and consultant. Some payments are made to support the building and maintenance of community facilities
                       

Canada -Saskatchewan

    


 Lac La Ronge
Indian Band
Community
Trust		  
 
 
 		                         510,000                                       510,000     Payments based on the collaboration agreement, including funding for education and community liaison. The trust is attributed to the communities of Grandmother’s Bay, Hall Lake, La Ronge, Little Red River, Stanley Mission, and Sucker River
                       

Canada -Saskatchewan

    

 northern
village of
Pinehouse		  
 
 		                         1,230,000                                       1,230,000     Payments are mostly comprised of contributions stipulated in collaboration agreements with the community. These include payments directly to the community and to a community-owned contractor. Some payments are made to support the building and maintenance of community facilities
                       

Canada -Saskatchewan

    
 Six Rivers
Fund		  
 		                 100,000                       100,000     Trust fund to benefit indigenous communities in Northern Saskatchewan. Money is granted to projects to support youth, education, health & wellness, and sports & recreaction.

 
Extractive Sector Transparency Measures Act - Annual Report
Reporting Year     From:     1/1/2023     To:       12/31/2023                  
Reporting Entity Name     Cameco Corporation         Currency of the Report       CAD        

Reporting Entity ESTMA

Identification Number

         E886600                    
Subsidiary Reporting Entities (if necessary)                        
Payments by Payee
                       
Country   Payee  Name1    

Departments,

Agency, etc...

within Payee

 that Received 

Payments2

   Taxes       Royalties          Fees       

Production

 Entitlements 

      Bonuses       Dividends     

Infrastructure
 Improvement 

Payments

    

 Total Amount 

paid to Payee

     Notes3,4
                       

Canada -Saskatchewan

    

 Peter
Ballantyne
Cree Nation		  
 
 		                         700,000                                       700,000     Payments based on the participation agreement, including community investment funding and business development.
                       

United States of America

    



 national
government
of United
States of
America		  
 
 
 
 		                         880,000                                       880,000     Departments include Nuclear Regulatory Commission, Bureau of Land Management, Department of Agriculture. Transaction occurred in USD$, converted to CAD$ at the exchange rate existing at time of payments (Avg. $1.30 CAD/USD).
                       

United States of America

    
 the state of
Wyoming		  
 		         70,000       10,000       300,000                                       380,000     Departments include Department of Environmental Quality,Office of State Lands and Investments, Department of Revenue, Secretary of State. Transaction occurred in USD$, converted to CAD$ at the exchange rate existing at time of payments (Avg. $1.30 CAD/USD)
                       

United States of America

    
 the state of
Nebraska		  
 		                         180,000                                       180,000     Departments include Department of Environmental Quality, Board of Education, Department of Health & Human Services. Transaction occurred in USD$, converted to CAD$ at the exchange rate existing at time of payments (Avg. $1.30 CAD/USD)
                       

United States of America

    


 the
municipality
of Campbell
County		  
 
 
 		         250,000                                                       250,000     Transaction occurred in USD$, converted to CAD$ at the exchange rate existing at time of payments (Avg. $1.30 CAD/USD)
                       

United States of America

    


 the
municipality
of Converse
County		  
 
 
 		         540,000               30,000                                       570,000     Transaction occurred in USD$, converted to CAD$ at the exchange rate existing at time of payments (Avg. $1.30 CAD/USD)
                       

United States of America

    


 the
municipality
of Dawes
County		  
 
 
 		         80,000                                                       80,000     Transaction occurred in USD$, converted to CAD$ at the exchange rate existing at time of payments (Avg. $1.30 CAD/USD)
                       

United States of America

    


 the
municipality
of Fremont
County		  
 
 
 		         10,000                                                       10,000     Transaction occurred in USD$, converted to CAD$ at the exchange rate existing at time of payments (Avg. $1.30 CAD/USD)
                       

Australia

    

 Government
of Western
Australia		  
 
 		   Department
of Mines &
Petroleum		                     310,000                                       310,000     Transaction occurred in AUD$, converted to CAD$ at the exchange rate existing at time of payments ($0.90 CAD/AUD)
Additional Notes:  

 

 





 

 

As required by Canada’s Extractive Sector Transparency Measures Act (ESTMA), Cameco has reported to the Canadian government payments made to
governments in Canada, the United States, and Australia. These payments include royalties, taxes and fees paid during a year by Cameco and its subsidiaries to
various levels of government related to commercial development. Under ESTMA commercial development captures the exploration and extraction of minerals
and does not include post-extraction activities, such as refining, processing, marketing, distribution, transportation or export. With the exception of payments
made to Indigenous Payees, the amounts reported are on a 100% basis with no adjustment to reflect the minority ownership interest of other entities in the
commercial development of minerals undertaken by Cameco and its subsidiaries. Payments made to Indigenous Payees in Canada are reported at Cameco’s
share.

 

 
Extractive Sector Transparency Measures Act - Annual Report
Reporting Year     From:       1/1/2023       To:       12/31/2023                
Reporting Entity Name         Cameco Corporation         Currency of the Report   CAD        

Reporting Entity ESTMA

Identification Number

         E886600                  

Subsidiary Reporting Entities (if 

necessary)

                      
Payments by Project
                     
Country    Project Name1      Taxes       Royalties          Fees         Production Entitlements    Bonuses    Dividends    Infrastructure
 Improvement Payments 		      Total Amount paid 
by Project		     Notes2,3
                     

Canada -Saskatchewan

     Cameco Corporation               69,100,000       4,860,000                           73,960,000     corporate royalties & colloboration agreements that are not assigned/attributed to a specific project
                     

Canada -Saskatchewan

     Key Lake       1,500,000               3,860,000                   10,000       5,370,000    

property taxes & regulatory fees

 

(100% of payments reported, Cameco ownership 83.3%)

                     

Canada -Saskatchewan

     McArthur River       1,320,000               1,600,000                   10,000       2,930,000    

property taxes & regulatory fees

 

(100% of payments reported, Cameco ownership 69.8%)

                     

Canada -Saskatchewan

     Cigar Lake       4,630,000               2,040,000                   10,000       6,680,000    

property taxes & regulatory fees

 

(100% of payments reported, Cameco ownership 54.5%)

                     

Canada -Saskatchewan

     Rabbit Lake       380,000               860,000                           1,240,000     property taxes & regulatory fees
                     

Canada -Saskatchewan

     Exploration                       90,000                           90,000     Claim staking and maintenance fees
                     

United States of America

    
 Crow Butte
Resources		  
 		     80,000               370,000                           450,000     Transaction occurred in USD$, converted to CAD$ at the exchange rate existing at time of payment (Avg. $1.30 CAD/USD)
                     

United States of America

    
 Power Resources
Inc		  
 		     870,000       10,000       1,030,000                           1,910,000     Transaction occurred in USD$, converted to CAD$ at the exchange rate existing at time of payment (Avg. $1.30 CAD/USD)
                     

Australia

     Cameco Australia               310,000                       310,000     Transaction occurred in AUD$, converted to CAD$ at the exchange rate existing at time of payment (Avg. $0.90 CAD/AUD)
   
Additional Notes3:    



 As required by Canada’s Extractive Sector Transparency Measures Act (ESTMA), Cameco has reported to the Canadian government payments made to governments in Canada, the United States, and Australia.
These payments include royalties, taxes and fees paid during a year by Cameco and its subsidiaries to various levels of government related to commercial development. Under ESTMA commercial development
captures the exploration and extraction of minerals and does not include post-extraction activities, such as refining, processing, marketing, distribution, transportation or export. With the exception of payments
made to Indigenous Payees, the amounts reported are on a 100% basis with no adjustment to reflect the minority ownership interest of other entities in the commercial development of minerals undertaken by
Cameco and its subsidiaries. Payments made to Indigenous Payees in Canada are reported at Cameco’s share.
v3.24.3
Document Information
 12 Months Ended
Dec. 31, 2023
Document Information:  
Document Type 2.01 SD
Amendment false
CIK 0001009001
Registrant Name Cameco Corporation
Period End Date Dec. 31, 2023
Reporting Currency CAD
v3.24.3
Payments, by Project - 12 months ended Dec. 31, 2023 - CAD ($)
Taxes
Royalties
Fees
Infrastructure
Total Payments
Cameco Corporation [Member]          
Total   $ 69,100,000 $ 4,860,000   $ 73,960,000
Key Lake [Member]          
Total $ 1,500,000   3,860,000 $ 10,000 5,370,000
McArthur River [Member]          
Total 1,320,000   1,600,000 10,000 2,930,000
Cigar Lake [Member]          
Total 4,630,000   2,040,000 $ 10,000 6,680,000
Rabbit Lake [Member]          
Total 380,000   860,000   1,240,000
Exploration [Member]          
Total     90,000   90,000
Crow Butte Resources [Member]          
Total 80,000   370,000   450,000
Power Resources Inc [Member]          
Total $ 870,000 $ 10,000 1,030,000   1,910,000
Cameco Australia [Member]          
Total     $ 310,000   $ 310,000
v3.24.3
Payments, by Government - 12 months ended Dec. 31, 2023 - CAD ($)
Taxes
Royalties
Fees
Infrastructure
Total Payments
Canada -Saskatchewan | National Government Of Canada [Member]          
Total     $ 3,970,000   $ 3,970,000
Canada -Saskatchewan | The Province Of Saskatchewan [Member]          
Total $ 7,830,000 $ 69,100,000 4,420,000   81,350,000
Canada -Saskatchewan | The Province Of Ontario [Member]          
Total     50,000   50,000
Canada -Saskatchewan | Athabasca Community Trust [Member]          
Total     1,820,000   1,820,000
Canada -Saskatchewan | English River First Nation [Member]          
Total     500,000 $ 20,000 520,000
Canada -Saskatchewan | Lac La Ronge Indian Band Community Trust [Member]          
Total     510,000   510,000
Canada -Saskatchewan | Northern Village Of Pinehouse [Member]          
Total     1,230,000   1,230,000
Canada -Saskatchewan | Six Rivers Fund [Member]          
Total     100,000   100,000
Canada -Saskatchewan | Peter Ballantyne Cree Nation [Member]          
Total     700,000   700,000
United States of America | National Government Of United States Of America [Member]          
Total     880,000   880,000
United States of America | The State Of Wyoming [Member]          
Total 70,000 $ 10,000 300,000   380,000
United States of America | The State Of Nebraska [Member]          
Total     180,000   180,000
United States of America | The Municipality Of Campbell County [Member]          
Total 250,000       250,000
United States of America | The Municipality Of Converse County [Member]          
Total 540,000   30,000   570,000
United States of America | The Municipality Of Dawes County [Member]          
Total 80,000       80,000
United States of America | The Municipality Of Fremont County [Member]          
Total $ 10,000       10,000
Australia | Government of Western Australia [Member]          
Total     $ 310,000   $ 310,000
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