Cameco Port Hope Conversion Facility Workers Accept Contracts

Port Hope, July 5, 2013

Cameco (TSX: CCO; NYSE: CCJ) announced today that unionized employees at Cameco's Port Hope conversion facility have voted to accept new collective agreements.

More than 250 employees, represented by United Steelworkers locals 13173 and 8562, have agreed to three-year contracts that include a six per cent wage increase over the term of the agreements. The previous contracts expired on June 30, 2013.

Cameco's Port Hope plant is the only uranium conversion facility in Canada producing uranium hexafluoride (UF₆) and the only commercial supplier of natural uranium dioxide (UO₂) conversion services needed to produce fuel for Candu nuclear reactors. Total workforce at the Port Hope conversion facility, including managers and salaried employees, is approximately 370.

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