Canada Near Deal to Supply Uranium to India
Canada and India are reportedly close to finalising a landmark export agreement worth approximately US $2.8 billion, under which Canada would supply uranium to India over a potential ten-year period. The pact is seen as a significant step in strengthening bilateral cooperation in nuclear energy and strategic minerals.
Deal Structure and Strategic Significance
The proposed deal is expected to involve Cameco Corp, Canada’s major uranium producer, as the supplier of uranium to India. While neither the Canadian nor Indian governments have officially confirmed the agreement, sources speaking to the Canadian press indicate that the discussions are in advanced stages. The deal follows recent engagement between Canadian Prime Minister Mark Carney and Indian Prime Minister Narendra Modi where both nations signalled a desire to expand economic ties.
Broader Context and Challenges
The proposed agreement comes amid a revival of Canada-India trade relations, including the relaunch of talks for a high-ambition trade pact aimed at doubling bilateral trade by 2030. However, analysts caution that finalising the deal will require India to meet Canadian export controls and for both sides to agree on safeguards, uranium enrichment terms, and end-use verification. Until formal documentation is released, the deal remains a reported intent rather than a binding contract.
