Cameco Corporation filed its 2025 Modern Slavery Report, detailing its operations, supply chain, and governance framework to address forced labor and child labor risks in compliance with Canadian legislation.
Key takeaways
Cameco's 2025 Modern Slavery Report covers the financial year ended December 31, 2025, as required by the Fighting Against Forced Labour and Child Labour in Supply Chains Act.
The company considers modern slavery risk low in its controlled operations due to locations in Canada, the U.S., and Australia with established labor laws.
In 2025, Cameco sourced inputs from approximately 2,061 suppliers globally with total annual spend of approximately $1.264 billion for Canadian operations.
Approximately 91% of Cameco's procurement spend for Canadian operations was with suppliers located in Canada, with 99% in Canada or the United States.
Cameco purchased 9.6 million pounds of uranium from 11 suppliers in 2025, with JV Inkai in Kazakhstan providing approximately 47% of purchased uranium.
The company updated its Supplier Code of Conduct and Ethics in 2024 to explicitly prohibit suppliers from engaging in forced labor, compulsory labor, or child labor.