President and CEO of Cameco Tim Gitzel was joined by Bruce Power President and CEO Mike Rencheck to make a historic announcement in Cameco’s Port Hope facility.
It’s a long-term, exclusive arrangement to supply uranium, conversion services and fuel fabrication. This deal extends the arrangements announced in 2017 and represents an additional 2.8-billion dollars in business between the two industry leaders.
President and CEO of Cameco Tim Gitzel told attendees that Canada produces some of the cleanest nuclear power in the world.
Bruce Power President and CEO Mike Rencheck said nuclear power is at the heart of fighting climate change.
Northumberland Peterborough South MPP David Piccini was on hand for the announcement.
Premier Doug Ford was unable to attend personally, but provided a video message praising the continued partnership between Cameco and Bruce Power. Ford said, “The continued partnership will help meet our province’s increasing demand for cost-competitive and clean power as we compete to attract more game changing investments in our economy from companies like Stellantis and Volkswagen.”
MPP Piccini said “Ontario’s nuclear industry plays a vital role in helping decarbonize our power grids in Ontario and Canada.”
He also told us that Cameco does so much beyond supplying the fuel for nuclear power.
And while they’re a great corporate citizen locally, Port Hope Mayor Olena Hankivsky reflected that this long-term commitment is good news for every Canadian.
The announcement today on inter-provincial collaboration secures many years of Canadian-made nuclear energy that is essential to building a path to net-zero, while creating good jobs and benefitting ratepayers.
Written by Joseph Goden
