+
India, Canada Close In On USD 2.8bn Uranium Supply Deal
ECONOMY & POLICY

India, Canada Close In On USD 2.8bn Uranium Supply Deal

India and Canada are nearing a USD 2.8 billion agreement for long-term uranium supplies to Indian nuclear power plants, soon after launching negotiations on a Comprehensive Economic Partnership Agreement (CEPA). According to a report in the Globe and Mail, the proposed deal could run for a decade and may form part of a broader nuclear co-operation framework between the two countries.

Following a meeting between Prime Ministers Narendra Modi and Mark Carney on the sidelines of the G20 Leaders’ Summit in Johannesburg, the Ministry of External Affairs said both leaders had reaffirmed their longstanding civil nuclear partnership. They also agreed to expand this collaboration, including through long-term uranium supply arrangements. The uranium is expected to be supplied by Cameco Inc, the Saskatchewan-based nuclear fuel company.

Cameco previously supplied uranium to India under an agreement with the Department of Atomic Energy that began after Modi’s 2015 visit to Canada and expired in 2020. Canadian uranium exports to India for electricity generation were authorised under the Canada–India Nuclear Co-operation Agreement, which came into effect in September 2013.

A broader nuclear co-operation agreement may also be under consideration, with India expressing interest in small modular reactors, a senior official indicated earlier. The uranium deal would follow the Australia–Canada–India Technology and Innovation (ACITI) Partnership, announced in Johannesburg on Saturday after a trilateral meeting involving Modi, Carney and Australian Prime Minister Anthony Albanese. Modi said the initiative will strengthen collaboration across emerging technologies, diversify supply chains, support clean energy and help boost AI adoption across three continents.

India and Canada are nearing a USD 2.8 billion agreement for long-term uranium supplies to Indian nuclear power plants, soon after launching negotiations on a Comprehensive Economic Partnership Agreement (CEPA). According to a report in the Globe and Mail, the proposed deal could run for a decade and may form part of a broader nuclear co-operation framework between the two countries. Following a meeting between Prime Ministers Narendra Modi and Mark Carney on the sidelines of the G20 Leaders’ Summit in Johannesburg, the Ministry of External Affairs said both leaders had reaffirmed their longstanding civil nuclear partnership. They also agreed to expand this collaboration, including through long-term uranium supply arrangements. The uranium is expected to be supplied by Cameco Inc, the Saskatchewan-based nuclear fuel company. Cameco previously supplied uranium to India under an agreement with the Department of Atomic Energy that began after Modi’s 2015 visit to Canada and expired in 2020. Canadian uranium exports to India for electricity generation were authorised under the Canada–India Nuclear Co-operation Agreement, which came into effect in September 2013. A broader nuclear co-operation agreement may also be under consideration, with India expressing interest in small modular reactors, a senior official indicated earlier. The uranium deal would follow the Australia–Canada–India Technology and Innovation (ACITI) Partnership, announced in Johannesburg on Saturday after a trilateral meeting involving Modi, Carney and Australian Prime Minister Anthony Albanese. Modi said the initiative will strengthen collaboration across emerging technologies, diversify supply chains, support clean energy and help boost AI adoption across three continents.

Related Stories

Gold Stories

Next Story
Real Estate

Peninsula Land launches 19 luxury villas in Pune

Pune’s residential landscape is witnessing a shift as premium homebuyers increasingly seek larger spaces, privacy and independent living options beyond high-rise apartments. Addressing this demand, Peninsula Land Limited, part of the Ashok Piramal Group, has launched AshokVillas, an exclusive collection of 19 premium furnished villas in Gahunje, Pune.The development combines the independence of a standalone home with the convenience and security of a managed residential community. Designed around low-density horizontal living, AshokVillas offers residents private spaces while providing acces..

Next Story
Infrastructure Urban

MyBranch Expands South India Network with 16 Workspace Centres

MyBranch has expanded its South India presence with a 50,000 sq ft flexible workspace network comprising 16 centres across 14 cities in Andhra Pradesh, Karnataka, Tamil Nadu and Telangana.The expansion reflects growing demand for flexible office infrastructure as businesses establish regional teams, satellite offices and operations beyond traditional metropolitan markets. MyBranch’s network spans Bengaluru, Coimbatore, Guntur, Hanamkonda, Hubballi, Hyderabad, Madurai, Mangaluru, Rajahmundry, Salem, Tirupati, Vellore, Vijayawada and Visakhapatnam, with a large office space in Chennai also und..

Next Story
Building Material

Walplast Launches Moisture-Resistant Gypsum Plaster Solutions

Walplast Products Pvt. Ltd. has expanded its HomeSure GypEx portfolio with the launch of GypEx MoistShield and GypEx Gold, two gypsum plaster solutions designed to address moisture-prone applications and improve plastering efficiency.The new products have been developed in response to the growing demand for faster construction processes, improved material performance and consistent surface quality. The solutions aim to simplify interior plastering while addressing specific application requirements across construction environments.“Through HomeSure GypEx MoistShield and GypEx Gold, we are exp..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code