Sep. 13, 2009 (The Hindu Business Line) --
Anil Sasi
The Canadian firm — the world’s largest publicly traded uranium company which accounted for 15 per cent of global production last year — plans to open a marketing office in Hyderabad on October 1, Mr Rob Gereghty, Manager, External Communications, Investor, Corporate and Government Relations at Cameco, told Business Line.
The office, likely to be headed by an ex-IAEA (International Atomic Energy Agency) official, will carry out the groundwork for the company’s full-scale entry into India in the near future.
In response to a query on whether Cameco would be open to joint ventures with Indian firms, Mr Gereghty said: “At this point, we are not allowed to conduct any business in the country until Canada has signed a nuclear cooperation agreement with India.”
Dr Chaitanyamoy Ganguly, Head of the IAEA’s nuclear fuel cycle and materials department and a former chief executive of the Hyderabad-based Nuclear Fuel Complex, has been appointed the President of Cameco’s India office.
Cameco Corporation’s President and Chief Executive Officer, Mr Gerald Grandey, has already made a number of sorties to India during the last one year in the wake of the potential for uranium supplies that the Saskatoon, Saskatchewan-based company, foresees here.
Both India and Canada are currently working on advancing the nuclear cooperation agreement that is under discussion and a final pact is “on the horizon”, Government officials said.
Uranium supplies
Besides Canada, India has been actively working on firming up uranium supply agreement with a number of other countries over the last couple of years. The Department of Atomic Energy (DAE) had signed a contract with Areva in December 2008 for supply of 300 tonnes of uranium concentrates. DAE has received full supply of this material from the French company.
DAE also signed contracts for long-term supply of 2,000 tonnes of natural uranium pellets with the Russian state-owned fuel monopoly TVEL. Kazakhstan and Namibia are also among the countries discussing fuel and equipment supply contracts with the Government for upcoming nuclear power plants.
India has 4,120 MW of installed capacity of nuclear power plants. Three more 220 MW pressurised heavy water reactors, two 1,000 MW light water reactors and one 500 MW prototype fast breeder reactor are currently under construction.
Rio Tinto Group was the world’s largest uranium producer and accounted for 18 per cent of global uranium (OOTC:GBAUF) (TSXV:GU) production in 2008, while French firm Areva was third with a 14 per cent share of global production, according to the World Nuclear Association data.
Canada was the world’s largest producer of uranium in 2008, followed by Kazakhstan and Australia.
Cameco will have to wait till Canada signs an N-cooperation pact with India before it can consider jt ventures
Dr Chaitanyamoy Ganguly, an ex-IAEA official and former chief executive Nuclear Fuel Complex, is to head Cameco’s India office
the nuclear cooperation agreement that is under discussion
