Corporate social responsibility (CSR) is a relatively new area of business for many mining companies around the world, but not for Cameco. In fact, CSR has been a major part of every business plan and project the company has undertaken over the past two decades.
For more than 20 years now, Cameco has made it mandatory that being socially responsible to the people and communities within which they work is paramount to the success of the project and by sticking to its own rules, the company has become a leader that others now follow.
Simply put, Cameco makes every effort to act in the best interests of the people and communities in which it operates. Being a responsible company with a solid reputation helps Cameco attract and retain top employees, earn the trust of its stakeholders and manage risk responsibly.
As mining companies are under growing scrutiny for the way they conduct their businesses, there has also been a significant increase in stakeholder expectations for environmentally and socially responsible business practices.
Like all mining companies, Cameco works under strict government regulations at every stage; from exploration and development, to decommissioning and reclamation, and rather than viewing sustainable development as an "add-on" to traditional business activity, the company sees it as simply as a good way to do business.
Each and every division within the organization strives to ensure that social and environmental issues are addressed with the utmost of sincerity.
To support what it promises, Cameco invested $99 million in 2011 alone in environmental protection, monitoring, and assessment programs; a 30 per cent increase from the year before. And, when it came to health and safety, the company invested an additional $30 million.
Financial commitments are one thing but where Cameco really stands out is in its work with communities that are affected by its operations. Keeping its neighbours informed of what it’s doing on an on-going basis is what sets Cameco apart from others and that’s one of the reasons the company is being featured here.
Cameco has worked hard to build relationships with the communities located near its operations. In many cases, these communities are First Nations.
Cameco draws on a five-pillar corporate social responsibility strategy to sustain and strengthen these relationships: workforce development, business development, community engagement, community investment and environmental stewardship.
More than half of Cameco’s northern Saskatchewan workforce are northern residents. The company also prefers northern suppliers in its purchasing to build business capacity and strengthen the northern economy. In 2011 alone, Cameco purchased nearly three quarters of the services required by its Saskatchewan operations from northern and aboriginal-owned businesses totalling about $400 million.
Community investment plays a large role in building relationships with local communities. Since 2004, more than $10 million has been invested in northern Saskatchewan. In most cases, investments have centered on young people, creating more opportunities to live healthy, active lives, and providing greater access to education. Some notable initiatives include a $2 million investment in Credenda Virtual High School, which helps overcome barriers to math and
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