India has a dynamic and growing nuclear energy industry, and uranium from Saskatchewan is now officially part of the electricity generation mix for that country.
“India has just received its first shipment of Saskatchewan uranium under the Canada-India Nuclear Cooperation Agreement, and today we mark an economic milestone for our uranium mining industry and our province,” Premier Brad Wall said. “All of Saskatchewan benefits from having this major new customer for our resource, but this export news is particularly welcome for uranium workers, nearly half of whom are First Nations and Métis.”
The uranium shipment from Saskatoon-based Cameco Corporation arrived in India today. It consists of product mined and milled at Cameco’s McArthur River and Key Lake operations in northern Saskatchewan.
The shipment is the first under a five-year contract to supply 7.1 million pounds of uranium concentrate that Cameco subsidiary Cameco Inc. signed with the Department of Atomic Energy of India in April of this year. The premier witnessed that signing in Ottawa during a state visit to Canada by Indian Prime Minister Narendra Modi.
India is the world’s second fastest growing market for nuclear fuel. The country has 21 reactors currently in operation, with another six under construction and scheduled to come online over the next four years. India plans to increase its current nuclear capacity of 5,800 megawatts to 27,500 megawatts by 2032.
Saskatchewan is the world’s second-leading producer of uranium and is home to 100 per cent of Canada’s uranium mining industry. The industry employs more than 4,000 people, with almost half of its mining workforce residents of northern Saskatchewan.
Saskatchewan uranium exports add approximately $1.2 billion annually to the Canadian economy.