CNSC Announces Decision on Renewal of Operating Licence for Cameco Corporation's Nuclear Fuel Facility in Blind River, Ontario

OTTAWA, ONTARIO--(Marketwire - Feb. 29, 2012) - Following a two-day public hearing, the Canadian Nuclear Safety Commission (CNSC) announced today its decision to renew for a period of ten years the Nuclear Fuel Facility Operating Licence for Cameco Corporation's facility located in Blind River, Ontario. The licence will be valid from March 1, 2012 to February 28, 2022.

The Commission, in making its decision, considered information presented for a public hearing held on November 3, 2011 in Ottawa, Ontario and on January 19, 2012 in Port Hope, Ontario. During the public hearing, the Commission received and considered submissions from Cameco Corporation and 38 intervenors, as well as CNSC staff's recommendations.

The Commission is satisfied that the licensee meets the requirements of section 24 of the Nuclear Safety and Control Act, and concludes that Cameco Corporation is qualified to carry out the activities that will be permitted under the renewed licence, and that it will make adequate provision for the protection of the environment, the health and safety of persons, and the maintenance of national security and measures required to implement international obligations to which Canada has agreed.

With this decision, the Commission directs Cameco to prepare a status report on the safety performance of its facility approximately at midpoint of the 10-year licence term. The Commission requests that CNSC staff also prepare a report on the results of compliance activities carried out during the first half of the licence term and on the licensee's performance during that period. Cameco and CNSC staff shall present their reports at a public proceeding of the Commission. In addition, the Commission directs CNSC staff to provide annual industry reports, including data on the performance of this facility.

The Summary Record of Proceedings and Decision is available upon request to the Commission Secretariat. The detailed Record of Proceedings, including Reasons for Decision will be available, in both official languages, on the CNSC web site at a later date. Transcripts of the hearing are available on the CNSC Web site at www.nuclearsafety.gc.ca, or by contacting the CNSC. The webcast of the hearing is archived on the same site for a period of 90 days.

The Canadian Nuclear Safety Commission (CNSC) regulates the use of nuclear energy and materials to protect the health, safety and security of Canadians and the environment, and to respect Canada's international commitments on the peaceful use of nuclear energy.