Cameco Corp. says it has signed a deal to supply India with $2.6 billion worth of Saskatchewan uranium over the next nine years, marking a major expansion of the province’s role in fuelling the country’s growing nuclear power program.The agreement was signed in the presence of Premier Scott Moe, Prime Minister Mark Carney, and Indian Prime Minister Narendra Modi, according to a provincial government release issued Monday.The deal is between Cameco and India’s Department of Atomic Energy and will see uranium from Saskatchewan used in India’s expanding nuclear fleet.Moe said the agreement highlights Saskatchewan’s ability to provide energy security to countries looking for stable supplies of fuel.“We understand Saskatchewan’s potential to supply the world with the fuel it needs to power the economies of tomorrow, and it’s great to see India value the energy security we can provide,” Moe said in the release."Conservatives welcome India’s requests for more Canadian energy. It underscores why increasing pipeline capacity to the west coast is essential to delivering economic benefits to Canadians and our trading partners," said Adam Chambers, Conservative shadow minister for international trade."The demand for more energy is not a surprise, nor is India’s requests as it now joins a long list of countries that has specifically asked for more Canadian energy. The Prime Minister has yet to act swiftly to meet these demands – there are no proposed routes, no consultations and no leadership by the federal government to make this a reality.".The new agreement replaces a five-year uranium supply pact signed in 2015. The province said the new deal is nearly 10 times the value of the earlier agreement at the time it was announced.Cameco CEO Tim Gitzel said demand for secure, carbon-free nuclear energy is climbing quickly around the world, with India pushing ahead with ambitious plans to expand its civilian nuclear program.He said Saskatchewan-mined uranium will help meet India’s growing energy needs while strengthening trade ties between the two countries.Cameco, based in Saskatoon, has more than 35 years of experience in Saskatchewan’s uranium sector and supplies nuclear fuel to customers around the world.The province said Saskatchewan’s uranium mining sector employed more than 2,300 people in 2024 and contributed more than $2.5 billion to provincial GDP.With countries increasingly turning to nuclear power, Saskatchewan has been positioning itself as a reliable supplier from a politically stable jurisdiction.
