Cameco supports Saskatchewan's plan for 2,600 MW of nuclear power by 2050

The Canadian province of Saskatchewan is advancing its nuclear energy strategy, aiming to develop at least 2,600 megawatts of nuclear generation capacity by 2050. This initiative involves significant participation from Cameco, which serves as both a uranium producer and a stakeholder in reactor technology provider Westinghouse.

Cameco CEO Tim Gitzel has indicated that the company is considering expanding its industrial value chain by establishing uranium enrichment capabilities within Canada. Such a move would depend on broader policy decisions regarding the deployment of AP1000 reactor fleets in Canada and Ontario.

On an international level, Cameco is monitoring a non-binding agreement between the United States and the Republic of Korea. This deal potentially involves up to $120 billion in Korean investment to fund the construction of up to eight reactors in the U.S., including six Westinghouse AP1000 units and up to two Korean APR1400 reactors utilizing Westinghouse technology.