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Tim Gitzel said the case had gone on ‘far too long’. Courtesy Cameco. Cameco expects to receive a refund of CAD5.5m ($4.3m) plus interest after the Supreme Court of Canada dismissed the Canada Revenue Agency’s application for leave to appeal a lower court decision that ruled in favour of Cameco in an ongoing tax dispute.

The dismissal means that a dispute regarding the 2003, 2005 and 2006 tax years is “fully and finally resolved in Cameco’s favour”, the company said.

Cameco also expects to receive CAD10.25m in legal fees and up to CAD17.9m in disbursements for costs awarded in previous rulings.

Cameco president and chief executive officer Tim Gitzel said the ruling was another win for the uranium mining company in a saga that “has gone on far too long.”

Date: Saturday, 20 February 2021
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