Canada Needs to Eliminate Foreign Uranium Ownership Limits: Saskatchewan Premier

Bloomberg reported that Saskatchewan Premier Brad Wall said Canada should end limitations on foreign ownership for uranium companies like Cameco.

As quoted in the market news:

Canada’s foreign-ownership rules should keep the “net benefit test,” Wall said, despite criticism from opposition lawmakers that it’s too vague. The law allows policy makers to reject foreign purchases of Canadian firms if they don’t provide a net benefit to the country. Wall relied on that language to lead opposition to BHP Billiton Ltd. (BHP)’s $40 billion hostile takeover bid for Potash Corp. of Saskatchewan Inc., which was blocked in 2010.

Click here to read the full Bloomberg report.