India Signs CAD 2.6 Billion Uranium Deal with Canada’s Cameco
On March 2, India signed a CAD 2.6 billion agreement with Cameco to secure approximately 10,000 tonnes of uranium from 2027 to 2035. This deal is part of India's strategy to enhance energy security, as the country currently relies on imports for nearly 75% of its civilian uranium needs. India has domestic reserves of 4.2-4.3 lakh tonnes of uranium ore, but the extractable metal is significantly lower due to low-grade ore quality. The agreement falls under the India-Canada Civil Nuclear Cooperation Agreement, which requires India to provide material accounts to Canada. India operates 24 nuclear reactors with a capacity of around 9 GW and aims to increase nuclear power capacity to 100 GW by 2047, despite facing challenges such as land acquisition and local protests.
Published 1 day ago • 05 Mar 2026, 06:03 PM IST