Closer cooperation for CGN and Cameco

13 May 2016

China General Nuclear (CGN) announced it has signed an agreement with Canadian uranium mining company Cameco to further expand and deepen their cooperation in the joint development of uranium resources.

Cameco-CGN - May 2016 - 460 - (CGN)
The signing of the agreement (Image: CGN)

The agreement was signed on 9 May by CGN chairman He Yu and Cameco president and CEO Tim Gitzel, the Chinese company said yesterday. Under the agreement, the two companies will cooperate in green field uranium exploration projects, CGN said.

 A Cameco spokesman told World Nuclear News, "This agreement builds on previous strategic co-operation agreements and further strengthens our relationship with one of China’s largest energy companies. We will look at possible co-operation and partnering options in uranium exploration, development and mining, and other potential ventures in the nuclear fuel cycle." He added, "There is a strong foundation of mutual interest between our companies and we welcome a deeper partnership with CGN."

It was one of 11 agreements signed between British Columbia and Guangdong companies during the China (Guangdong) - Canada (British Columbia) Economic and Trade Cooperation Conference in Vancouver, organised by government of Guangdong Province and the government of British Columbia. It was attended by a delegation of high-ranking government officials from Guangdong province, led by party secretary of the Guangdong provincial committee Hu Chunhua. Also in attendance was British Columbia premier Christy Clark.

They signed a long-term supply agreement in November 2010, under which Cameco will supply CGNPC with 29 million pounds of uranium oxide (13,150 tonnes U3O8) by 2025. The value of the contract was not disclosed.

They signed a framework agreement in June 2010 that committed them to negotiate long-term uranium purchase agreements and potential joint development of uranium resourc

Researched and written
by World Nuclear News