Canada increasing uranium export to China

Wednesday, 08 August 2012 08:00

Key words: Canada, uranium, China


Mr. John Baird, Foreign Minister of Canada, and Mr. Liu Tienan, Head of National Energy Administration (NEA), signed an amendment to the Sino-Canadian nuclear cooperation agreement, which permits Canadian enterprises to export uranium to China.


Mr. Tim McMillan, Canadian Minister Responsible for Energy and Resources, said that Canadian uranium producers are ready to supply uranium to China, one of the world’s largest nuclear power markets. According to statistics, Canada makes revenues worth CAD 5 billion from nuclear power industry every year, and CAD 1 billion from uranium export. China now has 15 active nuclear reactors and 26 under construction. The amendment agreement has guaranteed its future uranium supply.


Mr. Tim Gitzel, Chief Executive Officer of Cameco, indicated that the permission for Canada to export uranium to China means a lot to Cameco, as the company was only allowed to sell non-Canadian-produced uranium to China. Besides, this agreement will also help create more employment in Canada. Other benefited parties include UEXC and Fission Energy, both of which are based uranium exploration and development companies.




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