Cameco settles US tax spat, 2017 outlook weakens

Canadian uranium producer Cameco has reached a settlement with the US Internal Revenue Service for the tax years 2009 to 2012, bolstering the company’s position that its transfer pricing arrangements are appropriate. The settlement agreement results in a cash tax payment of about $122 000, which Cameco will book in the current quarter, compared with the originally proposed tax expense of $122-million.