XML 114 R38.htm IDEA: XBRL DOCUMENT v3.24.1
Joint operations
12 Months Ended
Dec. 31, 2023
Joint operations [Abstract]  
Joint operations
31.
 
Joint operations
Cameco conducts a portion of its exploration, development, mining and milling activities through joint operations. Operations
are governed by agreements that provide for joint control of the strategic operating, investing and financing activities among
the partners. These agreements were considered in the determination of joint control. Cameco’s significant Canadian uranium
joint operation interests are McArthur River, Key Lake and Cigar Lake. The Canadian uranium joint operations allocate
uranium production to each joint operation participant and the joint operation participant derives revenue directly from the sale
of such product. Mining and milling expenses incurred by joint operations are included in the cost of inventory.
Cameco reflects its proportionate interest in these assets and liabilities as follows:
Principal place
 
of business
Ownership
2023
2022
Total assets
McArthur River
Canada
69.81%
$
1,048,746
$
998,368
Key Lake
Canada
83.33%
504,508
527,841
Cigar Lake
(a)
Canada
54.55%
1,158,583
1,219,036
$
2,711,837
$
2,745,245
Total liabilities
McArthur River
69.81%
$
50,199
$
37,881
Key Lake
83.33%
244,480
240,487
Cigar Lake
(a)
54.55%
48,967
50,362
$
343,646
$
328,730
(a) Cameco’s ownership stake in the Cigar Lake uranium mine in northern Saskatchewan was previously
50.025
%. On May
19, 2022, Cameco and Orano completed the acquisition of Idemitsu’s
7.875
% participating interest in the CLJV by acquiring
their pro rata shares through an asset purchase (note 6).