Cameco hopes to supply uranium to India
SASKATOON, SASKATCHEWAN - Saskatoon-based uranium miner Cameco Corp. says a multimillion-dollar deal is in the works to supply its product to India for nuclear power plants.
Cameco calls itself the world's largest supplier of uranium.
CEO Jerry Grandey told CBC News that negotiations for an export deal have been underway between authorities in Canada and India for more than a year and an order for more than seven million pounds of uranium is imminent.
"One of the interesting things is that India, of course, has got a very ambitious civilian nuclear power program and they have shortage of uranium within the country," Grandey told CBC News in an interview. "So they've been quite eager to establish a long-term relationship with a supplier like Cameco so that we can — over many decades — supply them the fuel that they need."
The company released financial figures for its third quarter and Grandey said the company "remains on target for another strong year in revenue and cash flow."
He said the world is "energy-hungry" and electricity generated by nuclear reactors has a positive outlook.
"Nuclear is increasingly seen as the leading, credible option for clean energy generation," Grandey said.
Related News
$453M Manitoba Hydro line to Minnesota could face delay after energy board recommendation
WINNIPEG - A recommendation from the National Energy Board could push back the construction start date of a $453-million hydroelectric transmission line from Manitoba to Minnesota.
In a letter to federal Natural Resources Minister Jim Carr, the regulatory agency recommends using a "certificate" approval process, which could take more time than the simpler "permit" process Manitoba Hydro favours.
The certificate process involves public hearings to weigh the merits of the project, which would then go to the federal cabinet for approval.
The NEB says this process would allow for more procedural flexibility and "address Aboriginal concerns that may arise in the circumstances of…
