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Cameco Ord Shs T.CCO

Alternate Symbol(s):  CCJ

Cameco Corporation is engaged in providing uranium fuel to generate clean, reliable baseload electricity around the globe. The Company also offers nuclear fuel processing services, refinery services and manufactures fuel assemblies and reactor components. Its segments include uranium, fuel services and Westinghouse. The uranium segment is involved in the exploration for, mining, milling, purchase and sale of uranium concentrate. The fuel services segment is involved in the refining, conversion and fabrication of uranium concentrate and the purchase and sale of conversion services. The Westinghouse segment is engaged in the nuclear services businesses. Its uranium projects include Millennium, Yeelirrie, and Kintyre. The Cree Extension-Millennium project is a Cameco-operated joint venture located in the southeastern portion of Canada's Athabasca Basin. The Yeelirrie deposit is located approximately 650-kilometer (Km) northeast of Perth and about 750 km south of its Kintyre project.


TSX:CCO - Post by User

Comment by Greendayon Nov 05, 2022 2:20am
246 Views
Post# 35075401

RE:westinghouse

RE:westinghouse

U.S. firm Westinghouse Electric Co will build Poland’s first nuclear power plant, Prime Minister Mateusz Morawiecki said on Friday, confirming a long-awaited decision aiming to reduce the country’s carbon emissions and phase out coal.

With Russia waging war in neighbouring Ukraine, Poland’s choice of a partner from the United States underlines the emphasis Warsaw places on relations with Washington at a time when its security is in the spotlight.

 

“We confirm our nuclear energy project will use the reliable, safe technology of @WECNuclear,” Morawiecki said on Twitter.

Westinghouse was competing with South Korea’s state-owned Korea Hydro Nuclear Power, which submitted an offer in April. Warsaw was also talking to French companies about the project.

“U.S. partnership on this project is advantageous for us all: we can address the climate crisis, strengthen European energy security, and deepen the U.S.-Poland strategic relationship,” Vice President Kamala Harris said in a tweet.

Harris worked to help Westinghouse secure the contract together with Energy Secretary Jennifer Granholm, engaging with Morawiecki several time over the past year, a White House official said. The project would create thousands of American jobs, the official added.

 

The selection of Westinghouse and of the United States sent a message to Russian President Vladimir Putin “about the strength and the meshing together of a U.S.-Poland alliance,” a senior U.S. government official said.

Warsaw had been seeking a partner to build 6-9 gigawatts (GW) of nuclear capacity and provide up to 49% equity financing for the project. It planned to choose the technology for the first three reactors by the end of 2022, with the first set to start its operations in 2033.

“We understand that the decision will be for the first three reactors and it is our expectation that Poland intends to eventually construct six AP1000 reactors from Westinghouse and will make a formal decision about the second set of three at a later date,” the U.S. official said.

Sources have said that Poland would choose the technology first, which would indicate who the partner would be, and discuss the details of the contract afterwards.

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