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<SEC-DOCUMENT>0001130319-04-000551.txt : 20040730
<SEC-HEADER>0001130319-04-000551.hdr.sgml : 20040730
<ACCEPTANCE-DATETIME>20040730134715
ACCESSION NUMBER:		0001130319-04-000551
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20040729
FILED AS OF DATE:		20040730

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CAMECO CORP
		CENTRAL INDEX KEY:			0001009001
		STANDARD INDUSTRIAL CLASSIFICATION:	MISCELLANEOUS METAL ORES [1090]
		IRS NUMBER:				980113090
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14228
		FILM NUMBER:		04941696

	BUSINESS ADDRESS:	
		STREET 1:		2121 11TH ST W
		CITY:			SASKATOON
		STATE:			A9
		ZIP:			S7M 1J3
		BUSINESS PHONE:		3069566200

	MAIL ADDRESS:	
		STREET 1:		2121 11TH ST W.
		CITY:			SASKATOON
		STATE:			A9
		ZIP:			S7M 1J3
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>o13743e6vk.htm
<DESCRIPTION>MATERIAL CHANGE REPORT DATED JULY 29, 2004
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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
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<P align="center" style="font-size: 14pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>


<DIV align="center" style="font-size: 12pt"><B>Washington, DC 20549</B>
</DIV>


<P align="center" style="font-size: 18pt"><B>FORM 6-K</B>



<P align="center" style="font-size: 10pt"><B>Report of Foreign Private Issuer<BR>
Pursuant to Rule&nbsp;13a-16 or 15d-16 Under<BR>
the Securities Exchange Act of 1934</B>



<P align="center" style="font-size: 10pt">For the month of July, 2004

<P align="center" style="font-size: 10pt">(Commission file No.&nbsp;1-14228)

<P align="center" style="font-size: 24pt"><B>Cameco Corporation</B>


<P align="center" style="font-size: 10pt"><B>2121 &#150; 11th Street West<BR>
Saskatoon, Saskatchewan, Canada S7M 1J3</B>


<DIV align="center" style="font-size: 10pt"><HR size="1" noshade width="40%" align="center">
<I>(Address of Principal Executive Offices)</I></DIV>


<P align="left" style="font-size: 10pt">Indicate by check mark whether the registrant files or will file annual reports
under cover Form 20-F or Form 40-F.


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="70%">
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    <TD width="47%">&nbsp;</TD>
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<TR valign="bottom">
    <TD align="center" valign="top">Form&nbsp;20-F&nbsp;<FONT face="Wingdings">&#111;</FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Form&nbsp;40-F&nbsp;<FONT face="Wingdings">&#254;</FONT></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="left" style="font-size: 10pt">Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule&nbsp;12g3-2(b) under the Securities Exchange Act of
1934.


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="70%">
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<TR valign="bottom">
    <TD align="center" valign="top">Yes&nbsp;<FONT face="Wingdings">&#111;</FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">No&nbsp;<FONT face="Wingdings">&#254;</FONT></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="left" style="font-size: 10pt">If &#147;Yes&#148; is marked, indicate below the file number assigned to the registrant
in connection with Rule&nbsp;12g3-2(b): <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>



<P>
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<HR size="4" noshade color="#000000" style="margin-top: -10px">






<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<P><HR noshade><P>

<DIV style="font-family: 'Times New Roman',Times,serif">








<!-- TOC -->
<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

<P><CENTER>
<TABLE border="0" width="90%" cellpadding="0" cellspacing="0">
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</TR>
<TR><TD colspan="9"><A HREF="#000">EXHIBIT INDEX</A></TD></TR>
<TR><TD colspan="9"><A HREF="#001">SIGNATURE</A></TD></TR>
<TR><TD colspan="9"><A HREF="#002"> MATERIAL CHANGE REPORT</A></TD></TR>
</TABLE>
</CENTER>
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>






<!-- link1 "EXHIBIT INDEX" -->
<DIV align="left"><A NAME="000"></A></DIV>

<P align="center" style="font-size: 10pt"><B>EXHIBIT INDEX</B>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B>Exhibit No.</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Description</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Page No.</B><HR size="1" noshade></TD>
</TR>

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    <TD valign="top" align="center"><DIV style="margin-left:0px; text-indent:-0px">1.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Material Change Report
dated July&nbsp;29, 2004
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">4 - 5</TD>
</TR>

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</TABLE>
</DIV>



<P align="center" style="font-size: 10pt">Page 2
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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<!-- link1 "SIGNATURE" -->
<DIV align="left"><A NAME="001"></A></DIV>

<P align="center" style="font-size: 10pt"><B>SIGNATURE</B>


<P align="left" style="font-size: 10pt">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.



<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top">Date: July 29, 2004&nbsp;</TD>
    <TD colspan="3">Cameco Corporation<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000">/s/ <I>"Gary M.S. Chad"</I>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2">Gary M.S. Chad&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2">Senior Vice-President, Law,
Regulatory Affairs and
Corporate Secretary&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt">Page 3
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
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    <TD width="35%">&nbsp;</TD>
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</TR>

</TABLE>
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<DIV align="left"><A NAME="002"></A></DIV>

<P align="center" style="font-size: 10pt"><B>FORM 51-102F3<BR>
MATERIAL CHANGE REPORT</B>



<P align="left" style="font-size: 10pt"><B>Item&nbsp;1 &#151; Name and Address of Company</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cameco Corporation (&#147;Cameco&#148;)<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2121 &#150; 11th Street West, Saskatoon, Saskatchewan S7M 1J3


<P align="left" style="font-size: 10pt"><B>Item&nbsp;2 &#151; Date of Material Change</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;July&nbsp;28, 2004


<P align="left" style="font-size: 10pt"><B>Item&nbsp;3 &#151; News Release</B>


<P align="left" style="font-size: 10pt">The English versions and the French translation versions of the press releases
relating to this material change were distributed and filed by Canadian
Corporate News through their Canadian Timely Disclosure Pack and U.S. Timely
Disclosure Pack on July&nbsp;26, 2004 and July&nbsp;28, 2004.



<P align="left" style="font-size: 10pt"><B>Item&nbsp;4 &#151; Summary of Material Change</B>


<P align="left" style="font-size: 10pt">The 200 hourly unionized employees at Cameco&#146;s Port Hope conversion facility
have rejected the latest contract offer made by Cameco. The previous contract
with the hourly employees expired on June&nbsp;30, 2004. These employees,
represented by the United Steelworkers of America, commenced strike action at
midnight, Wednesday, July&nbsp;28, 2004. No further talks are currently scheduled.



<P align="left" style="font-size: 10pt"><B>Item&nbsp;5 &#151; Full Description of Material Change</B>


<P align="left" style="font-size: 10pt">The 200 hourly unionized employees at Cameco&#146;s Port Hope conversion facility
have rejected the latest contract settlement offer from Cameco. The previous
contract with the hourly employees expired on June&nbsp;30, 2004. No further talks
are currently scheduled.


<P align="left" style="font-size: 10pt">On Wednesday, July&nbsp;28, the hourly employees represented by the United
Steelworkers of America voted 69% against the new three-year contract and
commenced strike action at midnight. Before July&nbsp;28, 2004, the hourly employees
voted to reject a prior contract offer made by Cameco.


<P align="left" style="font-size: 10pt">The Port Hope conversion facility, closed since mid June for summer maintenance
and employee vacations, reopened on Monday, July&nbsp;26, but no production systems
have begun the restart process. Until the issue has been resolved, the
shutdown state will be maintained and any additional steps necessary will be
taken to ensure the safety of people and the protection of the environment.


<P align="left" style="font-size: 10pt">Cameco did not plan to begin
UF<SUB>6</SUB> production until mid August and UO<SUB>2</SUB> production
until mid September. The annual production targets may be impacted by the
length of the labour dispute. Cameco has inventory strategically positioned to
mitigate the effect of a production shortfall.


<P align="left" style="font-size: 10pt">The last strike at the Port Hope conversion facility took place in the early
1980s when the facility was owned by Eldorado Nuclear Limited.



<P align="center" style="font-size: 10pt">Page 4
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">




<P align="left" style="font-size: 10pt"><B>Item&nbsp;6 &#151; Reliance on subsection 7.1(2) or (3)&nbsp;of National Instrument 51-102.</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.


<P align="left" style="font-size: 10pt"><B>Item&nbsp;7 &#151; Omitted Information</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.


<P align="left" style="font-size: 10pt"><B>Item&nbsp;8 &#151; Executive Officer</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gary M.S. Chad<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Senior Vice-President, Law, Regulatory Affairs and Corporate Secretary<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cameco Corporation<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(306)&nbsp;956-6303


<P align="left" style="font-size: 10pt"><B>Item&nbsp;9 &#151; Date of Report</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;July&nbsp;29, 2004.



<P align="center" style="font-size: 10pt">Page 5
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