Cameco Corporation 2025 Modern Slavery Report

Cameco Corporation, a nuclear energy company, has released its 2025 Modern Slavery Report, detailing its commitment to preventing forced labor and child labor within its operations and supply chains. The report, covering the financial year ended December 31, 2025, is a joint report by Cameco Corporation and its subsidiary, Cameco Fuel Manufacturing Inc. (CFM). The company emphasizes its core values of Safety and Environment, People, Integrity, and Excellence, and its commitment to ethical conduct and respect for human rights. Cameco has established a Code of Conduct and Ethics and a People Policy, alongside a Supplier Code of Conduct and Ethics, to ensure suppliers also adhere to human rights and labor laws. The report outlines Cameco's operations in Canada and the United States, its supply chain management, and its risk assessment processes for modern slavery. While Cameco considers the risk of modern slavery in its direct operations to be low due to geographical location and robust labor laws, it acknowledges potential risks in the supply chain beyond direct suppliers. The company has not identified any instances of forced or child labor and has remediation strategies in place should such risks be identified. Cameco actively engages in risk management, training, and reporting mechanisms to uphold its commitment to a safe and ethical work environment.