Released on November 6, 2012
Premier Brad Wall today applauded Prime Minister Stephen Harper on reaching a new deal that will allow sales of Saskatchewan uranium to India.
The Prime Minister announced today during his trade mission to India the conclusion of negotiations on the Administrative Arrangements for the Canada-India Nuclear Cooperation Agreement (NCA). Finalizing the Administrative Arrangements will open the way for Canadian uranium - 100 per cent of which is produced in Saskatchewan - to be exported to India.
"This is great news for Saskatchewan and our robust uranium industry," Wall said. "Our uranium producers are excited and ready to supply product to India, the world's largest democracy."
Wall said the opening of the Indian market to exports of Saskatchewan uranium was a priority of his trade mission to India in March 2011. At that time, the premier met with Chairman Banerjee and other senior executives of the Indian Department of Atomic Energy to profile our uranium resources and to urge India to conclude the negotiation of Administrative Arrangements with Canada.
"The Prime Minister knows how important these negotiations were to Saskatchewan and I thank him for this breakthrough and for his efforts on our behalf," Wall said.
India has a major nuclear program, second only to China in its scale. It has announced plans to build 12 new reactors by 2021, with India's demand for yellowcake expected to triple to about $650 million in annual purchases. India could build up to 40 new reactors over the next 20 years.
Saskatchewan is the world's second-leading producer of uranium and the Athabasca Basin contains the world's largest high-grade uranium deposits.
Uranium production in the province is expected to nearly double by 2017.
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For more information, contact:
Kathy Young
Executive Council
Regina
Phone: 306-787-0425
Email: kathy.young@gov.sk.ca
Cell: 306-526-8927