Canada, Kazakhstan to cooperate on nuclear energy


250909-news-canada-kazakhstan-to-cooperate-on-nuclear-energyCanada’s Trade Minister Stockwell Day and Kazakhstans Energy Minister Sauat Mynbaev jointly announced Thursday the conclusion of negotiations for a bilateral nuclear cooperation agreement.

Their respective governments, however, must still finalize the legal text prior to signing and implementing the pact.

“This agreement will open up the civil nuclear market to Canadian companies, who have a full array of products and services to offer Kazakhstan’s growing market for nuclear energy,” said Day in a statement during a visit to Kazakhstan.

“Given its expertise in nuclear energy, Canada will continue to play a growing role in this energy-rich country, especially in oil and gas and uranium extraction, as well as in the supply and service of pipeline equipment.”

As well, the pact ensures that all nuclear material, equipment and technology transferred by Canada to Kazakhstan will be used “only for peaceful, non-explosive purposes,” said the Canadian government.

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Canada and Kazakhstan reach nuclear trade deal

Sept 24. Reuters. OTTAWA

by Louise Egan

* Deal to supply nuclear material, equipment, technology
* Cameco Corp to benefit from agreement
* Agreement to ensure peaceful nuclear uses only

Canada and Kazakhstan have reached a nuclear cooperation agreement to open up Kazakhstan’s civil nuclear market to Canadian uranium and technology suppliers, Trade Minister Stockwell Day said on Thursday.

In a statement, the government said that one of the Canadian companies that will benefit from the agreement with the Central Asian country is Cameco Corp (CCO.TO), one of the world’s largest uranium producers.

Cameco owns 60 percent of a venture that operates the Inkai uranium deposit in Kazakhstan.

“Once implemented, this agreement will allow us to expand our role and presence in the country and develop partnerships that will allow Cameco and Kazatomprom to work together on opportunities to convert uranium,” said Gerald Grandey, Cameco’s chief executive.

Day said Canada expects to expand its role in Kazakhstan’s oil, gas and uranium extraction industries, as well as in the service of pipeline equipment.

Canada controls about 10 percent of the world’s nuclear reactor market and its nuclear energy industry exports about C$1.2 billion worth of products and services a year.

The government said the agreement with Kazakhstan would ensure that all nuclear material, equipment and technology from Canada would be used for peaceful purposes only.

The legal text of the agreement must now be finalized before the two countries sign and implement it.