Prime Minister Stephen Harper welcomed the announcement by Cameco, a Saskatoon-based Canadian company, of a contract for the supply of over seven million pounds of uranium concentrate to India over the next five years for the generation of electricity. The contract with India’s Department of Atomic Energy was signed during the official visit to Canada by Narendra Modi, Prime Minister of India, and was witnessed by both leaders.
The export contract is specifically for Canadian uranium, which will be sourced from the company’s operations in northern Saskatchewan. The sale will permit the Cameco group of companies to establish itself in one of the world’s fastest growing uranium markets.
The signing of the contract is a clear signal of Canada’s increased energy cooperation with India and a testament to the Government’s efforts to promote greater trade and investment with India.
The supply contract was made possible by the Canada-India Nuclear Cooperation Agreement (NCA) which came into force in September 2013. The NCA and a supporting Administrative Arrangement allow Canadian companies to export nuclear items to India for peaceful uses in accordance with Canada’s nuclear non-proliferation policy and subject to appropriate export licenses and permits.
The Canadian Nuclear Safety Commission is responsible for the implementation of the Canada-India Nuclear Cooperation Agreement, ensuring that Canadian exports only go to facilities in India under International Atomic Energy Agency safeguards.