Saskatchewan welcomes EU trade deal that eases uranium ownership rules


SWIFT CURRENT, Sask. – Saskatchewan Premier Brad Wall says a new trade deal with the European Union could mean billions for the uranium industry.

Wall says the agreement-in-principle removes foreign ownership restrictions on uranium mining.

Current rules cap foreign ownership of uranium mines at 49 per cent and Wall says some companies, like Areva, have made the best of it by partnering with Canadian firms, like Cameco (TSX:CCO).

Wall says easing the restrictions means foreign companies can own mines outright.

He believes it could mean $2.5 billion in investment in the province over the next decade.

Saskatchewan is one of the world’s leading uranium producing regions in the world and Wall and industry players have been pushing Ottawa to relax the foreign ownership restrictions in the sector.

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Saskatchewan welcomes EU trade deal that eases uranium ownership rules

  1. Wall is a cheerleader for anything corporate. Cameco does an $850 million tax dodge and has been found to be greatly exceeding pollution standards in northern Sask. by Sierra Club. Wall cuts already low uranium royalty rates and declares that the best program for northerners is not a program at all, but Cameco. Then there is the $6.5 million bridge to nowhere at Patuanak that seems to fit with NWMO plans for a nuclear waste dump. Meanwhile, our emergency wards are restricted due to a shortage of doctors and our university medical school is in danger of losing accreditation. But the nuclear research program there is well funded. People are on a euphoric high once again with this “have province” drummed into their heads by the corporate media and do not look past the urban sprawl. The hangover will once again be painful.

    • Saskatchewan has urban sprawl?

      • Regina and Saskatoon- yes. Not Calgary yet, but sprawling out. Been here lately?

        • It’s been a few years. They’re in the midst of a housing boom, as is much of the country, and yes, there will be some negative consequences to that. Always is. Still, sprawl isn’t the word I’d use for it.

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