Canada and India Seal Historic Uranium Deal Worth $2.6 Billion
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Canada's Minister of Foreign Affairs Anita Anand hailed a long-term uranium supply deal with India as a 'landmark' agreement. The deal, signed by Canadian company Cameco, will see the firm provide nearly 22 million pounds of uranium ore concentrate to India over nine years, with a total contract value of approximately CA$ 2.6 billion.
The agreement was finalised during Canadian Prime Minister Mark Carney's four-day bilateral visit to India and is expected to begin in 2027, running through 2035.
Similar to a 2015 agreement, the current deal is longer and five times the value of the original. Cameco CEO Tim Gitzel said the company is proud to be a strategic partner with India to help meet its civil nuclear fuel needs and support its trade relationship with Canada.
India aims to attain 100 gigawatt of nuclear power capacity by 2047, with plans to add dozens more nuclear power plants. Cameco is globally recognised as a nuclear fuel supplier of choice, and the company is pleased to be a trusted provider for India once again.
