Cameco to Supply Nearly $3 Billion in Uranium to India

CANADA, March 2 - Released on March 2, 2026

Saskatchewan Uranium will Fuel India's Energy Security for Next Decade

Today, Premier Scott Moe joined Prime Minister Mark Carney and Prime Minister Modi to witness the signing of an agreement for Saskatchewan uranium to be sold to India. The agreement between Cameco and India's Department of Atomic Energy commits the nuclear energy giant to supply fuel for use in the country's growing nuclear fleet.

"We understand Saskatchewan's potential to supply the world with the fuel it needs to power the economies of tomorrow and it's great to see India value the energy security we can provide," Moe said. "This agreement is thanks in no small part to Cameco for their dedication to our uranium industry, and the governments of Saskatchewan, Canada and India for their priority on a productive and mutually beneficial relationship. Today marks a great day for this longstanding partnership and holds a lot of promise for a bright future together."

With this agreement, Cameco expects to ship $2.6 billion worth of uranium to India over a nine-year term. Today's agreement replaces a five-year agreement from 2015 and is nearly 10 times the value at the time of announcement in 2015.

Cameco has over 35 years of experience in Saskatchewan's uranium industry and continues to be a reliable supplier of the critical mineral to countries all over the globe.

"The global demand for secure, carbon-free nuclear power is rising rapidly, and India is at the forefront with ambitious expansion plans for its civil nuclear energy program," CEO of Cameco Tim Gitzel said. "Cameco will play a pivotal role by providing Saskatchewan-mined uranium to help fuel the energy needs of India's growing population and industries, as well as further solidify the vital trade relationship between our two countries. 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." 

In Saskatchewan, in 2024, the uranium mining sector employed more than 2,300 people and contributed more than $2.5 billion to the provincial GDP. With the ongoing global shift to nuclear power, jurisdictions around the world are continuing to source more uranium from responsible, reliable and geopolitically stable regions like Saskatchewan. 

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