Cameco (NYSE: CCJ) lifts Cigar Lake uranium mine ownership to 57.418%

Rhea-AI Filing Summary

Cameco Corporation has increased its ownership in the Cigar Lake uranium mine in northern Saskatchewan following the closing of a previously announced transaction involving TEPCO Resources Inc.’s 5% participating interest in the Cigar Lake Joint Venture. Cameco’s stake in the mine has risen by 2.871 percentage points to 57.418%, while joint venture partner Orano Canada Inc.’s interest has increased by 2.129 percentage points to 42.582%. Cigar Lake is one of Cameco’s key high-grade uranium assets and supports its position as a major global provider of uranium fuel for carbon-free nuclear power generation.

Insights

Mining and energy sector analyst

Cameco modestly increases its stake in a key uranium asset.

Cameco has closed the acquisition of an additional 2.871 percentage point interest in the Cigar Lake uranium mine, taking its ownership to 57.418%. The remaining portion of TEPCO Resources Inc.’s 5% participating interest goes to Orano Canada Inc., raising Orano’s stake to 42.582%.

Cigar Lake is described as a high-grade uranium operation, and greater ownership slightly deepens Cameco’s exposure to this specific asset within its broader uranium and nuclear fuel portfolio. The release does not quantify transaction value or production metrics, so the direct financial impact cannot be assessed from this information alone.

The transaction follows Cameco’s earlier June 1, 2026 announcement, indicating this closing is an expected step rather than a new strategic shift. Subsequent company disclosures may provide more detail on how the increased stake influences Cigar Lake’s contribution to Cameco’s uranium supply mix and overall capacity.

Key Figures

TEPCO JV interest sold: 5% participating interest Cameco ownership increase: 2.871 percentage points Cameco Cigar Lake stake: 57.418% +3 more

6 metrics

TEPCO JV interest sold 5% participating interest TEPCO Resources Inc.’s stake in Cigar Lake Joint Venture

Cameco ownership increase 2.871 percentage points Incremental stake gained in Cigar Lake mine

Cameco Cigar Lake stake 57.418% Ownership in Cigar Lake uranium mine after transaction

Orano ownership increase 2.129 percentage points Incremental stake gained in Cigar Lake mine

Orano Cigar Lake stake 42.582% Ownership in Cigar Lake uranium mine after transaction

News release date July 2, 2026 Date of Cameco’s announcement of deal closing

Key Terms

Cigar Lake Joint Venture, participating interest, uranium fuel, nuclear fuel cycle, +1 more

5 terms

Cigar Lake Joint Venture financial

"the acquisition of TEPCO Resources Inc.’s 5% participating interest in the Cigar Lake Joint Venture"

participating interest financial

"acquisition of TEPCO Resources Inc.’s 5% participating interest in the Cigar Lake Joint Venture"

uranium fuel financial

"Cameco is one of the largest global providers of the uranium fuel needed to power a secure energy future."

nuclear fuel cycle financial

"significant investments across the nuclear fuel cycle, including ownership interests in Westinghouse Electric Company"

The nuclear fuel cycle is the full supply chain that turns raw uranium into usable reactor fuel, manages its use in power generation, and handles spent fuel and any recycling or disposal. Think of it like the path from coffee beans to a brewed cup and the leftover grounds — each step (mining, conversion, enrichment, fabrication, reactor use, storage or reprocessing) affects cost, regulatory risk, supply security and long-term liabilities, all of which influence the value and prospects of companies involved.

carbon-free nuclear power other

"global nuclear fuel solutions for the generation of safe, reliable, carbon-free nuclear power."

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FAQ

What transaction did Cameco (CCJ) complete related to the Cigar Lake mine?

Cameco completed the acquisition of part of TEPCO Resources Inc.’s 5% participating interest in the Cigar Lake Joint Venture. The deal closed with Cameco and Orano Canada Inc. increasing their ownership stakes in the high-grade Cigar Lake uranium mine in northern Saskatchewan.

How did Cameco’s ownership in the Cigar Lake uranium mine change?

Cameco’s ownership in the Cigar Lake uranium mine increased by 2.871 percentage points to 57.418%. This higher stake gives Cameco a larger share of production and economic interest from one of its key high-grade uranium assets in northern Saskatchewan, Canada.

What is Orano Canada Inc.’s new stake in the Cigar Lake Joint Venture?

Orano Canada Inc.’s ownership in the Cigar Lake Joint Venture rose by 2.129 percentage points to 42.582%. This increase comes from the same TEPCO Resources Inc. 5% participating interest transaction that also raised Cameco’s stake in the Cigar Lake uranium mine.

Who sold the 5% participating interest in the Cigar Lake Joint Venture to Cameco and Orano?

TEPCO Resources Inc. sold its 5% participating interest in the Cigar Lake Joint Venture. That interest was acquired jointly by Cameco and Orano Canada Inc., resulting in both companies increasing their respective ownership stakes in the Cigar Lake uranium mine in northern Saskatchewan.

How does the Cigar Lake mine fit into Cameco (CCJ)’s overall business?

Cigar Lake is one of Cameco’s major high-grade uranium mines, supporting its role as a leading global provider of uranium fuel. It complements Cameco’s low-cost operations and investments across the nuclear fuel cycle, including interests in Westinghouse Electric Company and Global Laser Enrichment.

In what currency are the amounts in Cameco’s news release presented?

Amounts in the Cameco news release are presented in Canadian dollars unless otherwise specified. This reflects Cameco’s Canadian headquarters in Saskatoon, Saskatchewan, while its shares trade on both the Toronto Stock Exchange and the New York Stock Exchange under the symbol CCJ.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of July, 2026

Commission File Number 1-14228

Cameco Corporation

(Translation of Registrant’s Name into English)

2121-11th Street West

Saskatoon, Saskatchewan, Canada S7M 1J3

(Address of Principal Executive Offices)

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F        Form 40-F   ✔   

Exhibit Index

Exhibit No.		Description
99.1		Press Release dated July 2, 2026

SIGNATURE

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, thereunto duly authorized.

Date: July 6, 2026				Cameco Corporation
				By: /s/ R. Liam Mooney
				R. Liam Mooney
				Senior Vice-President and Chief Legal Officer

Exhibit 99.1

NEWS RELEASE		www.cameco.com		Saskatoon
All amounts in Canadian dollars unless specified otherwise				Saskatchewan Canada

Cameco Closes Deal to Increase Ownership in Cigar Lake Mine

July 2, 2026

Cameco (TSX: CCO; NYSE: CCJ) today announced that the acquisition of TEPCO Resources Inc.’s 5% participating interest in the Cigar Lake Joint Venture by Cameco and Orano Canada Inc. (Orano) has closed.

Cameco’s ownership stake in the Cigar Lake uranium mine in northern Saskatchewan has now increased by 2.871 percentage points to 57.418%, while Orano’s share has risen by 2.129 percentage points to 42.582%.

For more information regarding the transaction, please see Cameco’s June 1, 2026 news release announcing the acquisition.

Profile

Cameco is one of the largest global providers of the uranium fuel needed to power a secure energy future. Our competitive position is based on our controlling ownership of the world’s largest high-grade reserves and low-cost operations, as well as significant investments across the nuclear fuel cycle, including ownership interests in Westinghouse Electric Company and Global Laser Enrichment. Utilities around the world rely on Cameco to provide global nuclear fuel solutions for the generation of safe, reliable, carbon-free nuclear power. Our shares trade on the Toronto and New York stock exchanges. Our head office is in Saskatoon, Saskatchewan, Canada.

As used in this news release, the terms we, us, our, the Company and Cameco mean Cameco Corporation and its subsidiaries unless otherwise indicated.

- End -

Investor inquiries				Media inquiries
Cory Kos				Veronica Baker
306-716-6782				306-385-5541
cory_kos@cameco.com				veronica_baker@cameco.com

Filing Exhibits & Attachments

1 document

Press Releases

• EX-99.1 EX-99.1 6.9 KB