Reactor could be in province's future: Cameco VP

Saskatchewan could be the home of a nuclear reactor in years to come, according to a Cameco senior vice-president.
"A nuclear renaissance is here," not only in the province but also around the world, Gary Chad told those gathered at an Oct. 12 Business Builder's Luncheon sponsored by the Prince Albert & District Chamber of Commerce.
"There's more interest now in a reactor in Saskatchewan than at any time in the past," he said.
However, such a project is decades into the future, said Chad.
"There are major, major decisions that have to be made."
Chad said there are 434 nuclear reactors operating around the world and another 30 are under construction, with China, Russia and India also getting involved in nuclear-related endeavours.
This is good news for Cameco and other uranium-related businesses in the province, said Chad.
"A lot of uranium is going to be needed over the next several decades to fuel these reactors," he said, adding that with uranium being 40 times more abundant than silver, there are no fears of running out.
"There's only a shortage of known deposits" due to a lack of exploration, said Chad.
"We have a very robust exploration program."
The price that uranium brings - the element fetched $136 per pound in June and currently sits at $75 - makes such exploration more than worthwhile, he said.
This is reflected in the current "hiring spree with geologists and geophysicists," said Chad, adding Cameco has 136 people from Prince Albert on its payroll out of a Saskatchewan total of 8,800.
Chad said nuclear power makes sense on a financial and environmental level.
"The operating costs of nuclear (energy) are very, very low - second only to hydro power", and no greenhouse gases are emitted, he said.
Chad also stressed that accidents like 1979 incident at Three Mile Island are less likely to happen these days.
"They've improved operating efficiencies at reactors," with concomitant improvements in safety, he said, adding his company is very much a part of that.
"Cleaner energy to the world is what Cameco wants to do - and we're very noble about it."