The Globe and Mail reports in its Tuesday edition that Canada and India are finalizing a $2-billion uranium export deal, signaling improved relations after a two-year diplomatic rupture. The Globe's Steven Chase writes that sources say the agreement could last for 10 years, according to sources.
It is possible the terms of the deal could be modified before it is announced.
The uranium would be supplied by Cameco, and the export deal could be part of a broader nuclear cooperation effort between Canada and India.
On Sunday, Prime Ministers Mark Carney and Narendra Modi agreed to pursue a comprehensive economic partnership, restarting trade talks stalled for two years as both countries aim to strengthen their economies against unpredictable U.S. trade policies.
A news release from the Indian government stated that "both sides reaffirmed their longstanding civil nuclear cooperation and noted the ongoing discussions on expanding collaboration, including through long-term uranium supply arrangements." Back in 2015, the two countries signed a five-year pact to supply Cameco uranium to India, valued then at about $350-million.
The pending agreement will be a new pact rather than a renewal of the 2015 deal, two sources say.
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