Late News

摘要

Cameco signed its first uranium contract with india on April 15 during a visit of Indian Prime Minister Narendra Modi to Canada. Under the contract, which was signed with India's Department of Atomic Energy, Cameco is to provide 7.1 million pounds of uranium concentrate through 2020. The uranium will be used to manufacture fuel elements for India's nuclear power plants under International Atomic Energy Agency safeguards. According to Cameco, India is the world's second fastest growing market for nuclear fuel, with its nuclear capacity expected to reach 45,000 MWe by 2032. Its current nuclear capacity is only about 5,300 MWe. "This contract opens the door to a dynamic and expanding uranium market," said Tim Gitzel, Cameco's president and chief executive officer. The export of Canadian uranium to India was made possible by the Canada-India Nuclear Cooperation Agreement, which only came into force in September 2013. Canada had blocked uranium exports to India since the 1970s after India used nuclear material from Canada to develop and test a nuclear bomb.