The Globe and Mail reports in its Thursday, Nov. 6, edition that Cameco chief executive officer Tim Gitzel says the U.S. government is not involved in its uranium mining operations related to a recent $80-billion nuclear reactor deal. A Canadian Press dispatch to The Globe reports that the agreement involves U.S. financing and permitting for new reactors that will utilize Westinghouse technology, co-owned by Cameco and Brookfield Asset Management. Mr. Gitzel says: "We need to directly address some of the misinformation we've seen published in the last few days. The U.S. government partnership interest does not extend to Cameco's core business, although our uranium products and fuel services are certainly well positioned to support the build-out and long-term operation of the global fleet as it grows." He adds, "The participation interest by the U.S. government is only focused on the Westinghouse business." Chief operating officer Grant Isaac says the U.S. government is effectively acting as a "stimulant" to developing power at the scale needed to achieve domestic energy security. Westinghouse calls its AP1000 pressurized water reactor the most advanced nuclear power plant that is commercially available today.
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