Cameco joins Bruce Partnership

30 October 2000

Cameco Corporation has agreed to buy a 15% share in the Bruce Power Partnership, which is leasing the 8-unit Bruce plant from Ontario Power Generation for C$3.2 billion. British Energy holds 80% and unions have been invited to take up 5%. Bruce has 3440MWe operating, and there is prospect of recommissioning two or three of the laid-up 769MWe units.

As its share of the partnership, Cameco will invest C$100 million and provide financial guarantees. It will also supply all of the uranium, conversion services and fuel fabrication over the life of the contract, to 2018, with a 25-year option.

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