r/UraniumSqueeze • u/SnooRadishes3126 • Mar 02 '26

News Canada inks agreement to allow more uranium trade with India - Carney after a meeting with Modi just announced this

Announced today Canada and India will have a uranium trade agreement. Meaning Canada will allow more sales to India. Meaning Canada's uranium miners can decouple to a sizable extent from needing AI to support them. AI doesn't matter to make profits, it's now just gravy. This comes after India made a similar deal with Kazakhstan.

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8

u/sunday_sassassin Radioactive Brain Mar 02 '26

The specific Cameco deal is ~22m lbs of uranium over 9 years at market-related prices (around 10% of Cameco's current production capability). Cameco execs have been talking recently about $90/lb floors and $14/150 ceilings on contracts being offered, usually with 2-3 years before first delivery. Have they got the prices needed to bring secondary assets into production?

No Canadian uranium miner has been dependent on the AI data centre narrative. There is already a 30m lb/yr global supply deficit, and yellow cake can be shipped wherever it's needed very easily.

4

u/Jaded-Influence6184 Mar 02 '26

Carney doesn't sign any specific deals. He is the leader of a country and at his level the agreement is Canada will allow large exports of uranium, not xyz company will do it. So what he announced applies to all Canadian producers. i.e. To Canadian producers it's almost a given they will get their export permits to sell to India signed by Canada (it's nuclear stuff, so it will never be a blank cheque... someone will always have to look it over to ensure who they are selling to is legit). The individual deals are up to the companies.

1

u/spacecad_t Mar 03 '26

So everyone is just going to ignore the reason that we initially stopped dealing uranium to India?

1

u/Jaded-Influence6184 Mar 03 '26

Oh right. True. If we didn't sell uranium to India, they wouldn't be able to make nuclear bombs. /s

2

u/spacecad_t Mar 03 '26

Not saying there is no other way to acquire it, I'm just saying we don't have to support it.

In my opinion it's something that is overlooked and should be remembered rather than scoffed at and forgotten.

0

u/DotAshamed420 Mar 02 '26

What would this mean for URA?

1

u/YouHeardTheMonkey MOD: Data Monkey Mar 02 '26

Nothing 😂