Westinghouse changes hands again as Cameco buys into $7.9 billion deal

October 12, 2022, 3:15PMNuclear News
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.

GLE eyes earlier enrichment, inks agreements with two largest U.S. utilities

July 11, 2022, 9:30AMNuclear News

Global Laser Enrichment (GLE) signed separate, nonbinding letters of intent in June with the two largest nuclear power operators in the United States—Constellation and Duke Energy—to assess potential nuclear fuel supply chain cooperation, including support for GLE’s deployment of laser enrichment technology in the United States. According to GLE president and chief commercial officer James Dobchuk, who delivered a presentation on June 7 at the World Nuclear Fuel Market Annual Meeting, the company’s baseline deployment schedule could be accelerated by about three years (under favorable market conditions) to supply the nuclear fuel market with uranium in a range of enrichment levels in 2027.

Cameco to restart production at McArthur River uranium mine

February 14, 2022, 9:00AMNuclear News
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.

From the pages of Nuclear News : Industry update

November 1, 2021, 3:01PMNuclear News

Here is a recap of industry happenings over the course of the past month:


Terrestrial Energy and Cameco examine partnership for deploying IMSR Generation IV nuclear power plants

  • Terrestrial Energy and Cameco Corporation have signed a non-binding and non-exclusive memorandum of understanding to examine potential partnership opportunities to deploy Terrestrial Energy’s Integrated Molten Salt Reactor (IMSR) Generation IV nuclear power plants in North America and worldwide. The partnership would also evaluate possible opportunities for the supply of uranium, fuel, and other services. As part of these activities, the companies are investigating the potential of Cameco’s Port Hope uranium conversion facility in Ontario, Canada, for IMSR fuel salt supply.

DOE moves on sale and disposal of depleted uranium

June 11, 2020, 2:05PMRadwaste Solutions

The Department of Energy has signed an amendment to a 2016 sales agreement with Global Laser Enrichment (GLE) that will provide the company with access to large stockpiles of DOE-owned depleted uranium hexafluoride (DUF6) tails as GLE looks to build its proposed uranium enrichment facility at the DOE’s Paducah site in Kentucky. As announced on June 5, the amendment is one of the conditions of a 2019 agreement by Australia’s Silex Systems Limited, Canada’s Cameco Corporation, and GE Hitachi Nuclear Energy for the restructuring of GLE, the exclusive licensee of Silex’s laser uranium enrichment technology.

Separately, the DOE announced on June 5 that it has issued a formal record of decision for the shipment and disposal of depleted uranium oxide from the former gaseous diffusion plants at the department’s Paducah and Portsmouth sites in Ohio to one or more disposal facilities in the western United States.

Pandemic halts or slows work at uranium facilities

April 20, 2020, 5:53PMNuclear News

Several companies involved in the front end of the nuclear fuel cycle have announced temporary shutdowns or staffing reductions in response to the COVID-19 pandemic. While the modest increase in uranium spot prices triggered by production cuts could be a silver lining, uranium prices are still below a level that would prompt idled mines to get back in production once public health mandates are lifted.

The uranium market is global, and it should come as no surprise that a global pandemic is having an impact on facilities around the world, including in the following countries.