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REGINA — Saskatchewan Premier Scott Moe is hailing India’s deal with Canada on uranium as a “great day” for his province.
Moe was in New Delhi on Monday, where he watched Prime Minister Mark Carney ink the agreement with Indian Prime Minister Narendra Modi.
The $2.6-billion deal means Saskatoon-based Cameco is to supply just under 9.9 million kilograms of uranium to India over nine years.
“Saskatchewan’s always a big winner when it comes to export deals,” the premier told reporters in the Indian capital.
“Saskatchewan will certainly benefit from the agreement signed today, but all Canadians benefit as well. I think that’s important for us to remember.”
Saskatchewan is the sole producer of uranium in Canada, with mines that export the material primarily for power generation. The province says the uranium industry contributed more than $2.5 billion to the province’s gross domestic product in 2024.
In a news release, Cameco said its uranium is to be used for India’s 24 nuclear reactors. India has ambitious plans to build dozens more, the company added.
“That isn’t possible without a stable supply of uranium fuel,” Cameco CEO Tim Gitzel said in a news release.
“We are thankful for the continued advocacy of the Saskatchewan and Canadian governments to foster international trade opportunities that allow us to meet the needs of global customers and bring the benefits home.”
Cameco previously supplied uranium to India through a five-year contract that ended in 2020. The new deal spans 2027 to 2035.
Saskatchewan Trade Minister Warren Kaeding told reporters in Regina that the new arrangement supplies India with more uranium than before.
“It certainly stabilizes both price and volume, which is what anyone in industry is always looking for.”
The minister said he expects Saskatchewan will see more royalty revenues from the deal, helping the province’s bottom line.
The deal also gives Cameco certainty, allowing it to plan for long-term investments and employment needs, Kaeding added. The province’s mines are located in the north.
“It really opens up the door for just increased economic activity in northern Saskatchewan,” Kaeding said.
Despite the uranium deal, Saskatchewan continues to grapple with Indian tariffs on Canadian lentils and yellow peas. Before his trip, Moe said he hoped India wouldn’t increase duties on those products.
Kaeding said work will continue on getting those tariffs removed.
This report by The Canadian Press was first published March 2, 2026.
Jeremy Simes, The Canadian Press
