Government ownership of the company decreased over the next eleven years, with full privatization occurring in February, 2002.

Talvivaara would then pay back the initial construction costs in the form of uranium concentrate; once the initial costs were paid Cameco would continue to purchase the uranium concentrate at a pricing formula based on market price on the day of delivery.

[7] In 2016, Cameco suspended operations at its Rabbit Lake mine, due to low uranium prices.

[8] In 2017, it suspended operations for at least 10 months at its McArthur River mine and Key Lake mill,[9] converting that to an indefinite shutdown in 2018 involving the layoff of about 700 staff.

[10] In October 2022, Cameco along with Brookfield Renewable Partners announced the acquisition of Westinghouse Electric Company in a US$7.9 billion deal including debt.

Other operations in Saskatchewan include a mine and mill at Rabbit Lake, currently in care and maintenance.

[13][14] Cameco is the exclusive fuel supplier to Bruce Power, which supplies 30% of Ontario's electricity through its nuclear generating plant.

[17] In January 2011, Cameco participated in the clean up of a ship-board uranium concentrate spill on the MCP Altona that had occurred on December 23, 2010.

[23] The lower courts' rulings thus were rendered final, leaving the CRA with no further means to pursue this case.