Huge Cameco deal makes it a nuclear giant, too: Heather Exner-Pirot in the Saskatoon Star Phoenix

Saskatoon-based uranium giant’s purchase of nuclear energy player Westinghouse brings major implications beyond the business world.

By Heather Exner-Pirot, October 25, 2022

Last week, Cameco, the Saskatchewan-based uranium miner, announced it was acquiring American nuclear energy giant Westinghouse in a partnership with Toronto-based Brookfield Renewables.

The multi-billion-dollar deal made news and created buzz in the business sector, but its real significance is geopolitical. Russia’s invasion of Ukraine has set off a chain of reactions in the West, from friend-shoring supply chains, to prioritizing energy security, to hastening demand for non fossil fuel sources of electricity.The Cameco deal is a manifestation of all of those.With its headquarters in a nondescript neighbourhood on the west side of Saskatoon, Cameco is the world’s largest publicly traded uranium company, buoyed by two of the most valuable mines on the planet, both in northern Saskatchewan’s prolific Athabasca basin: Cigar Lake and McArthur River.But a depression […]

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