New Delhi, Mar 2 (EFE).– Canadian Prime Minister Mark Carney announced on Monday in New Delhi the signing of a $2.6 billion uranium supply agreement with the Indian government, for the energy and climate goals of the Asian country.
The contract, signed between the Indian authorities and the Canadian mining company Cameco, guarantees the long-term supply of nuclear fuel for India’s civilian power plants.
“The government of India and Cameco have signed a major $2.6 billion uranium supply agreement supporting India’s nuclear ambitions and our shared commitment to clean, reliable baseload power,” Carney told the media following his meeting with Indian Prime Minister Narendra Modi.
This nuclear pact is the major highlight of a new “strategic energy partnership” that seeks to reduce dependence on fossil fuels.
Carney noted that 40 percent of the world’s mining companies are listed in Canada, placing the North American country as a logistics ally for the Indian manufacturing and electric vehicle sector.
“As India seeks access to critical minerals for its manufacturing, its clean tech and its nuclear plans, Canada’s resource base and world-leading companies position it as a strategic partner,” said the Canadian leader.
Under the nuclear deal, the Canadian company Cameco will supply about 22 million pounds of uranium concentrate to India between 2027 and 2035.
During the meeting at Hyderabad House, Modi stressed that this partnership caters to energy security and a shared ethical vision.
The Indian leader added that the goal of these latest talks had been to transform “this vision into a next-level partnership” covering a wide array of fields from nuclear energy to technological sovereignty.
Moreover, Carney formally offered the supply of Liquefied Natural Gas (LNG) from the west coast of Canada, calling it the lowest carbon emission in the world, to help India meet its goal of doubling the role of gas in its energy matrix by the end of this decade. EFE
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