India Said to Import First Canadian Uranium in Four Decadesby and
20 uranium concentrate containers headed to India's west coast
Cameco to send uranium to India as part of supply agreement
India is poised to receive its first uranium from Canada in about four decades as Asia’s third-biggest economy seeks to expand its fleet of atomic reactors, according to people with knowledge of the shipment.
The nuclear fuel shipment from Saskatoon, Saskatchewan-based Cameco Corp. is scheduled to arrive by early December, said the people, who asked not to be identified because they aren’t authorized to speak about the cargo. Twenty containers of uranium concentrate are in transit to western India and more shipments will take place in the coming years, one of the people said. The price for the concentrate will be market determined, a second person said.
Cameco will make “smaller shipments of uranium concentrate this year, as we test our logistical and administrative systems,” Rob Gereghty, a company spokesman said in an e-mail. Subsequent deliveries to India will take place over the next five years through 2020, according to Gereghty, who declined to provide more specifics beyond what has already been announced.
Cameco signed a uranium supply deal in April to sell India 7.1 million pounds of uranium concentrate, during Indian Prime Minister Narendra Modi’s visit to Canada, the company said in a statement at the time. India plans a 74 percent expansion in its nuclear generation capacity by 2019.
India is expecting its first consignment from Cameco by the end of this year, S.K. Malhotra, a spokesman for India’s Department of Atomic Energy, said in Mumbai. He declined to share more details.