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5-Year Uranium Deal with Canada
Apr 17, 2015

Canada agreed to supply 3,000 metric tons of uranium to energy-hungry India from this year under a 254 million dollar 5-year deal to power Indian atomic reactors, four decades after bilateral cooperation in this sector was frozen over India's nuclear programme.

The agreement for uranium supply, which came two years after protracted negotiations following the 2013 civil nuclear deal between India and Canada, was signed after comprehensive talks Prime Minister Narendra Modi had with his Canadian counterpart Stephen Harper.

  • Cameco Corporation will supply 3,000 metric tons of uranium over five years to India at an estimated cost of 254 million dollar and the supply will start from this year.

  • Canada is the third country to supply uranium to India after Russia and Kazakhstan.

  • The supplies will be under the International Atomic Energy Agency (IAEA) safeguards.

  • Canada banned exports of uranium and nuclear hardware to India in the 1970s after it was alleged that India used Canadian technology to develop a nuclear bomb.

  • The two countries put this behind them with the Canada-India Nuclear Cooperation Agreement that took effect in 2013.

  • Canada is the second-largest producer of uranium globally, with exports valued at over 1 billion dollar per year.

  • This pact was the highlight of total 13 pacts that the two countries signed that also included a pact on space cooperation.

  • The two countries also decided to strengthen defence and security cooperation and decided to cooperate to stabilise the Asia Pacific region.

  • India announced Electronic Visa Authorisation for tourist visa for Canadian nationals. They will also be eligible for 10-year visas now.

  • The two countries also agreed for new framework for economic partnership.


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