Saskatchewan’s stature as a player in the global nuclear industry took a major step forward this week.
Cameco and its partner Brookfield own the nuclear arm of Westinghouse and they did some deal making to advance the deployment of their technology by inking a term sheet with the United States government. The American administration – if this agreement is completed – would take a 20-percent stake in a new partnership with Cameco and Brookfield.
The US participation will accelerate the deployment of Westinghouse nuclear reactors in America and around the world as the US administration will facilitate financing totaling at least $80 billion as well as helping with permitting and approvals.
The deal was well-received in the investment community with Cameco’s stock price rising 20-percent on the announcement. It also is a signal that the world is following through on pledges made at the COPS conference a few years ago to expand nuclear power production as a clean alternative to traditional fossil fuel generation, a development that will put an even brighter spotlight on Saskatchewan’s uranium and nuclear industries.
