Cameco Receives Administrative Monetary Penalty
Cameco has received an administrative monetary penalty of $17,830 from the Canadian Nuclear Safety Commission (CNSC) for failure to verify that work is being performed correctly and according to approved procedures at the Port Hope conversion facility.
The CNSC noted several instances of procedural non-compliance, including an incident on May 5, 2017 that involved the release of a small amount of hydrogen fluoride fumes within the UF6 plant during routine maintenance work when a safety clearance was not obtained prior to starting the work.
Cameco has already investigated these events and put corrective actions in place to improve compliance. The multiple layers of defence in the plant worked as designed and none of the instances resulted in any risk to the public or the environment.
Cameco is one of the world’s largest uranium producers, a significant supplier of conversion services and one of two Candu fuel manufacturers in Canada. Our competitive position is based on our controlling ownership of the world’s largest high-grade reserves and low-cost operations. Our uranium products are used to generate clean electricity in nuclear power plants around the world. We also explore for uranium in the Americas, Australia and Asia. Our shares trade on the Toronto and New York stock exchanges. Our head office is in Saskatoon, Saskatchewan.
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