nuclear is cheap low carbon baseload power, page-2

This article for me leaves open the type of uranium product cameco will supply...enriched or not ...any thoughts.
Hi all...Have not been well so been under the radar

Cameco.Cameco is the world's largest uranium producer accounting for 19% of world production from its mines in Canada and the US. Cameco has more than 500 million pounds of proven and probable reserves and extensive resources.

Cameco holds premier land positions in the world's most promising areas for new uranium discoveries in Canada and Australia as part of an intensive global exploration program.

Cameco is also a leading provider of processing services required to produce fuel for nuclear power plants, and generates 1,000 MW of clean electricity through a partnership in North America's largest nuclear generating station located in Ontario, Canada.

Wednesday, November 24, 2010

Cameco signs long-term uranium supply deal with state-owned China Guangdong Nuclear Power
by Deborah Sterescu

Late last night, uranium giant Cameco (TSX, NYSE: CCJ) announced it signed an agreement to supply state-owned China Guangdong Nuclear Power (CGNPC), a company with the largest number of nuclear power plants under construction in the world, with 29 million pounds of uranium concentrate through to 2025.

CGNPC operates three nuclear power stations with nearly 5,000 MW of installed generating capacity, and has about 17,000 MW of nuclear capacity under construction, with expectations for over 50,000 MW on line by 2020.

The deal, which is still subject to Chinese goverment approval, follows the framework agreement signed by both companies in June. No financial details of the transaction were disclosed.

"This long-term supply agreement with China Guangdong Nuclear Power is a significant step for our company in the world's fastest growing uranium market," said Cameco CEO Jerry Grandey.

The supply deal comes at a time when reports from China indicate the country plans to boost its nuclear capacity from the current 11 gigawatts (GW) to at least 80 GW by 2020. A further increase to 120-160 GW or more is planned by 2030.

"China Guangdong Nuclear Power has 14 nuclear power units currently under construction and is commencing preliminary work on another nine units. This deal leaves us well positioned to serve the company's growing uranium requirements," Grandey added.

The long-term supply agreement further validates Saskatchewan-based Cameco's plan to double its uranium production by 2018. The company's uranium products are used to generate electricity in nuclear energy plants globally. Cameco has gone up nearly 2% in pre-market trading to $35.85.

CGNPC also operates conventional generation facilities and is involved in the development of solar, wind and hydro technology.