REGINA – Saskatchewan Premier Brad Wall is lauding a new uranium deal reached today between Canada and energy-hungry India.
Prime Minister Stephen Harper and his counterpart, Indian Prime Minister Manmohan Singh, sealed a deal that will allow Canadian uranium to be shipped to India.
A nuclear co-operation was signed between the countries two years ago but its implementation was delayed over the details.
Canada will now have more oversight over where the products end up, something India had resisted.
Wall says the deal is good news for producers in the province, which will provide 100 per cent of the exports to India.
“Our uranium producers are excited and ready to supply product to India, the world’s largest democracy,” said Wall.
“The Prime Minister knows how important these negotiations were to Saskatchewan.”
India has announced plans to build 12 new nuclear reactors by 2021 and demand for yellowcake in that country is expected to triple to $650-million in annual purchases.
Uranium production in the province is expected to nearly double by 2017.
Saskatchewan is the second largest producer of uranium in the world and the Athabasca Basin holds the world’s largest known high-grade uranium deposits.
With files from The Canadian Press
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