Cameco signs deal on supplying China nuclear plants

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Thursday, 24 June 2010 07:21

VANCOUVER, June 24 (Reuters) - Canadian miner Cameco Corp.(CCO.TO) said on Thursday it has struck a framework agreement that could lead to supplying uranium to plants under construction by China Guangdong Nuclear Power Holding Co.

The non-binding deal will have the companies negotiate long-term purchase agreements as well as a potential joint venture agreement to develop uranium resources, Cameco said in statement.

Cameco said the talks are already under way and the Chinese nuclear power supplier indicated it has 20,000 megawatts of production capacity under construction and it plans to have 50,000 megawatts on line by 2020.

The announcement was one a series of framework deals announced by Canadian and Chinese companies on Thursday during President Hu Jintao's state visit to Canada. Hu said he wants China's trade with Canada to double by 2015.
Source: www.reuters.com

 

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