Canada and India are putting the finishing touches on a deal to supply New Delhi with uranium in another signal of warming relations after a two-year diplomatic rupture, reports The Globe and Mail.
The export deal would be worth about US$2.8-billion, two sources familiar with the negotiations say, and its term could run for 10 years, according to one of the same sources.
It’s possible the terms of the deal could be modified before it is announced, the sources said.
The uranium would be supplied by Canada’s Cameco Corp., and the export deal could be part of a broader nuclear cooperation effort between Canada and India.
On Sunday, Canadian Prime Minister Mark Carney and Indian Prime Minister Narendra Modi agreed to pursue what they are calling a comprehensive economic partnership, restarting trade talks that had been shelved for the past two years.
Back in 2015, the two countries signed a five-year pact to supply Cameco uranium to India, valued at about $350-million at the time based on uranium prices.
The pending agreement will be a new pact rather than a renewal of the 2015 deal, two sources say.
Broader cooperation between Ottawa and New Delhi on nuclear power, beyond a uranium supply contract, could include Canada’s efforts to build a commercial, or revenue-generating, small modular nuclear reactor.

















