Cameco hopes to supply uranium to India
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
Renewables surpass coal in US energy generation for first time in 130 years
WASHINGTON - Solar, wind and other renewable sources have toppled coal in energy generation in the United States for the first time in over 130 years, with the coronavirus pandemic accelerating a decline in coal that has profound implications for the climate crisis.
Not since wood was the main source of American energy in the 19th century has a renewable resource been used more heavily than coal, but 2019 saw a historic reversal, according to US government figures.
Coal consumption fell by 15%, down for the sixth year in a row, while renewables edged up by 1%. This meant renewables surpassed coal…
