Canadian Nuclear Association Applauds Canada-China Agreement on Uranium Exports

OTTAWA, Feb. 9, 2012 /CNW/ - Canada's nuclear industry congratulates Prime Minister Harper on the successful completion of negotiations between Canada and China to formalize an agreement that will increase exports of Canadian uranium.

"This is good news for Canada's nuclear industry," said Denise Carpenter, President and CEO of the Canadian Nuclear Association. "Canada produces 18% of all global uranium, making us the second largest producer in the world. Our uranium industry employs about 14,000 people across Canada and is the leading employer of Aboriginal people in Saskatchewan."

The broadening of the Canada-China Nuclear Cooperation Agreement means hundreds of new jobs and billions in new investments in Canada, and greater security of nuclear fuel supply for China. The Canada-China Memorandum of Understanding on Energy Cooperation strengthens bilateral ties between the two countries and provides a framework for Canada to engage China on nuclear energy policy, trade, investment, and research and development.

In addition to large uranium deposits, Canada is also home to the world's largest commercial uranium refining facility (Blind River, Ontario) owned and operated by Cameco Corporation. The company's planned increase in annual uranium production aligns well with China's ambitious nuclear growth plan.

"This agreement between Canada and China will generate even more jobs and revenue in Canada, and contribute to the use of clean energy in China, which is the world's largest energy consumer," added Ms. Carpenter. "We encourage the Government of Canada to finalize the Protocol as quickly as possible to benefit Canada's economy and improve access to markets for Canada's nuclear energy resources."

Canada's nuclear industry generates approximately $6.6 billion per year, contributing $1.5 billion in tax revenue and $1.2 billion in export revenues. The industry also supports over 70,000 direct and indirect jobs.

Kathleen Olson
Director of Communications
Canadian Nuclear Association
[email protected]