URANIUM: Cameco nets supply contract with India

SASKATOON – Cameco has signed a long term supply agreement with the Indian department of atomic energy to provide 7.1 million lb of Canadian uranium concentrate through 2020. The uranium will be used for the generation of electricity in India.

This is the first sale Cameco has made to India, the world's second fastest growing market for nuclear fuel. India currently operates 21 nuclear reactors, and another six are to come online by 2017. By 2032, India expects to have 45,000 MW of nuclear generating capacity.

Export of Canadian uranium to India for the generation of electricity is authorized by the Canada-India Nuclear Co-operation Agreement which came into force in September 2013.

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