India to get Canadian Uranium | Narendra Modi 3 Nation Tour

Canada: India will get Uranium from Canadian company to the second half of 2015. Both Department of Atomic Energy (DAE) and Canadian company Cameco has signed on a contract to supply of Uranium to India for generation of electricity.

Cameco’s president and CEO Tim S Gitzel told that the Canadian company has been planning to start supply of Uranium to India in the second half of 2015 as per a schedule and the company is excited to start a new relationship with the Country. Two days back, India Prime Minister Narendra Modi visited Canada; during this the company signed an agreement to supply Uranium to India over five years at a cost of 350 million Canadian dollars.

For the first time, Canadian company signed on a contract to supply 700 Million pounds of uranium to India for next 5 years to generate electricity through nuclear plants and they are much excited to build a new relationship between two countries.

Russia and Kazakhstan are supplying Uranium to India, now Canada is the third country which will be supplying it. In 1970s there were some assumptions that India used Canadian technology to develop a nuclear bomb, for this reason they suspended the supply of uranium to India.

When Gitzel asked about nuclear issue he said that it was history “India and Canada have been working very closely over the last five years for an agreement in the civil nuclear sector which clearly dictates the terms of the relationship as to who can do what, if we supply nuclear material uranium, what it can be used for, what is the monitoring mechanism, what oversight. So, it is a new day that has allowed us to sell uranium to the Department of Atomic Energy (DAE) (of India)”.