Beijing nuclear expansion leads to buying Canadian uranium — RT Business

In a move away from coal towards nuclear energy, China has secured a deal to import uranium from Canada. The deal allows China to buy up to 35 percent of Canada’s Fission Uranium’s yearly production.

CGN Mining, a subsidiary of state-owned China General Nuclear Power, will pay $59 million for a 19.99 percent stake in Fission. The Canadian company specializes in exploration and development of the Patterson Lake South uranium deposit in Canada’s Athabasca Basin.

Beijing nuclear expansion leads to buying Canadian uranium — RT Business