Cameco headquarters in Saskatoon, Saskatchewan, Canada. (Photo: Cameco)
Five years after bankruptcy, Pennsylvania-based Westinghouse is being sold again, this time with a 49 percent share going to Cameco Corp., the front-end uranium mining, milling, and conversion company headquartered in Saskatchewan, Canada. Cameco and Brookfield Business Partners, based in Toronto, Ontario, announced the deal yesterday. Once it closes as expected, in the second half of 2023, Brookfield Renewable Partners and other Brookfield institutional partners will own a 51 percent interest in a consortium with Cameco.
Mining at McArthur River takes place between 530 and 640 meters belowground. (Photo: Cameco)
Citing “improving market sentiment,” Tim Gitzel, president and chief executive officer of the Canadian uranium mining company Cameco, announced on February 9 the planned restart of operations at the McArthur River mine in Saskatchewan.