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Uranium One

Safety, Health and Environment (SHE)

The Uranium One SHE system standards are used as a basis for the development of SHE management programs at each operation in which Uranium One has operational control. All of our mines are required to provide periodic reports measuring performance against key SHE indicators. The information in these reports is carefully tracked and monitored by the Company’s Vice President, Safety, Health, and Environment / Corporate Social Responsibility to ensure that Uranium One SHE standards are adhered to overall.

In keeping with the Company’s focus on continuous improvement in SHE management, the Company conducts regular safety, health and environmental audits at its operations world-wide, identifying and implementing changes wherever necessary or appropriate.

A recent example of continuous improvement was the implementation of a bioassay monitoring program at our South Inkai mine in Kazakhstan. While this was not required under applicable Kazakh regulations, it is in line with Western safety practices and with our commitment to enhancing workplace safety.

WNA Working Group on Uranium Mining Standardization

In the second quarter of 2011, Uranium One joined the World Nuclear Association (WNA) Uranium Mining Standardization Working Group (UMSWG). The working group includes the world’s major uranium producers (Cameco, Rio Tinto, AREVA, BHP Billiton, and Paladin), and was formed to address the following three issues.

Radon Risk

The UMSWG will monitor and influence new developments in radon risks in uranium mining, including protocols for determining dose parameters, will assess the results of relevant epidemiological studies, and engage as the industry stakeholder with the IAEA, ICRP and other organizations in the development of a practical radon dose standard consistent with both safety and industry efficiency.

Sustainable Development Indicators

The UMSWG will develop a protocol for the evaluation of uranium mine performance in the areas of environment, health and safety, and management systems. This will bring together major nuclear utilities and mine operators to cooperate on standardization of routine reporting on sustainable development performance. The aim is to produce a standard method for nuclear utilities to assess the sustainable development practices of potential fuel suppliers.

WNA Uranium Mining Standards Policy

The UMSWG will promote universal adherence to the WNA policy document “Sustaining Global Best Practices in Uranium Mining and Processing; Principles for Managing Radiation, Health and Safety, Waste and the Environment” through communication with stakeholders (industry, government and external) and promoting the use of common indicators to encourage compliance. The premise of this effort is that the principles affirmed in the WNA policy document are especially relevant to emerging uranium producing countries that lack fully developed regulations on radiation, health and safety, waste and the environment associated with uranium mining and processing.