Ottawa close to uranium deal with India worth US$2.8bil

Ottawa close to uranium deal with India worth US$2.8bil

The deal to supply Canada’s Cameco uranium to India could run 10 years and form part of broader nuclear cooperation.

Canadian Prime Minister Mark Carney met with Indian Prime Minister Narendra Modi for a discussion on the sidelines of the G20 summit in Johannesburg. (EPA Images pic)
OTTAWA:
Canada and India are close to finalising an export agreement in a deal valued at about US$2.8 billion, the Globe and Mail reported on Monday, citing people familiar with the matter.

The deal for Canada to ship uranium to India would run for 10 years if finalised, the report said, adding that uranium would be supplied by Canada’s Cameco Corp. The deal could be part of a broader nuclear cooperation effort between the two countries, the report said.

The Indian government, the Indian trade ministry, the Canadian government and Canada’s trade ministry did not immediately respond to Reuters’ requests for comment. Reuters could not immediately verify the report.

Canadian Prime Minister Mark Carney met with Indian Prime Minister Narendra Modi for a discussion on the sidelines of the G20 summit in Johannesburg, South Africa, on Sunday.

The Indian government said on Sunday that the two countries agreed to restart stalled talks for a new trade deal, after discussions had paused following a diplomatic spat two years ago.

“The leaders agreed to begin negotiations on a high-ambition Comprehensive Economic Partnership Agreement (CEPA), aimed at doubling bilateral trade to US$50 billion by 2030,” the statement from India’s Prime Minister’s office said.

Stay current - Follow FMT on WhatsApp, Google news and Telegram

Subscribe to our newsletter and get news delivered to your mailbox.