Thank you very much, Mr. Chair.
Good afternoon. It's my pleasure to appear at committee today on behalf of Cameco Corporation to discuss critical minerals and Canada's role as a responsible source of these valuable commodities as we move to a low-carbon, post-COVID economy.
Headquartered in Saskatoon, Saskatchewan, Cameco is one of the world's largest producers of uranium for nuclear energy and is the world's largest publicly traded uranium company. We are uniquely situated with operations across the nuclear fuel cycle, including in mining, refining, conversion and fuel manufacturing. The majority of our operations are located in Saskatchewan and Ontario, and our total Canadian workforce stands at nearly 2,100 employees and long-term contractors. Cameco is a proud and important part of Canada's nuclear and critical mineral supply chains that deliver reliable, emissions-free electricity in Ontario, New Brunswick and around the world.
Canada's uranium and nuclear fuel sectors can play a significant role in underpinning economic recovery and the transition to net zero emissions by providing highly skilled, well-paying jobs; engaging suppliers in a wide range of skilled trades and expertise, and stimulating innovation in a variety of nuclear disciplines, including small modular reactors.
As we consider the role that critical minerals might play in Canada's economic recovery, it is important to note that Cameco is one of the largest employers of indigenous people in Canada. Beyond employment, roughly 80% of the goods and services used at Cameco's mines and mills in northern Saskatchewan, totalling nearly $4 billion since 2004, are procured from northern and indigenous businesses. Our success depends on the long-term, positive partnerships and mutual trust that we have built with the first nations and Métis communities where we operate. Further development of a critical minerals sector in Canada must recognize the importance of indigenous partnerships for future success.
A significant number of economic, energy, environmental and national security policies being pursued by the Government of Canada require critical minerals. Without access to these commodities, objectives related to net zero emissions, electrification and electric vehicle and battery manufacturing will be challenging to meet. It is imperative that critical minerals discussions are broadened beyond the rare earth elements that are usually associated with clean technology innovation, development and deployment.
Cameco cannot stress enough that uranium, given the significant role that it plays in fuelling zero-emission electricity around the world and its importance to the energy and national security considerations of many countries, is a critical mineral commodity. We were pleased to see it on the list yesterday by Minister O'Regan.
Current use of nuclear energy worldwide helps the planet avoid roughly 2.5 billion tonnes of emissions annually. We're very proud of our contribution to global greenhouse gas emissions reduction efforts, and our uranium facilitates the generation of clean, carbon-free, baseload electricity that will power the transition to a low-carbon economy.
Cameco is fully supportive of the work that's under way on the Canada-U.S. joint action plan on critical minerals collaboration, under the leadership of Natural Resources Canada. A continental approach to improving critical mineral security, minimizing the effects of state-owned players in the critical minerals space and ensuring the future competitiveness of Canadian and U.S. minerals industries should assist in attracting investment to Canadian exploration and mining projects, and spur job creation and economic growth post-pandemic.
Canada and the Canadian workers who drive our industry would be very well served by being viewed as the go-to supplier for various critical mineral commodities needed by the significant U.S. market. We look forward to working with NRCan and the U.S. administration to advance collaboration in this area. With operations on both sides of the border, Cameco has a deep understanding of the bilateral challenges and opportunities and is willing to share our experiences with officials from both governments if it would be helpful.
Canada's resource wealth has long been a major driver of the country's financial health, socio-economic well-being and job creation efforts. The addition of critical minerals to Canada's resource endowment will only enhance the resource sector's economic contributions and our reputation as responsible resource developers that meet the standards of ESG investors. Canada's economic prosperity is linked to our ability to responsibly and sustainably develop and export our abundant natural resources and the value-added products that use them.
We commend Canada's inclusion of uranium on its list of critical minerals. We ask that the committee recognize the sizable contributions that Canadian uranium makes towards domestic and international goals of cleaner air, energy security and a low-carbon economy.
Significant opportunities are available to ensure supply chain security for critical minerals and to enhance co-operation on initiatives that address climate change in Canada and the United States. We should position ourselves as the critical mineral supplier of choice for our largest trading partner and put in place policies and regulations that enable resource companies to benefit from that relationship.
Thank you for your time.