Joint operations |
12 Months Ended |
|---|---|
Dec. 31, 2025 | |
| Joint operations [Abstract] | |
| Joint operations | 29. 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 2025 2024 Total assets McArthur River Canada 69.81% $ 1,011,469 $ 963,183 Key Lake Canada 83.33% 516,791 485,635 Cigar Lake Canada 54.55% 978,600 1,010,646 $ 2,506,860 $ 2,459,464 Total liabilities McArthur River 69.81% $ 57,890 $ 53,373 Key Lake 83.33% 264,001 248,107 Cigar Lake 54.55% 65,569 57,125 $ 387,460 $ 358,605 |