Ottawa to rethink uranium rules

The Gazette reports Ottawa has indicated liberalizing foriegn investment rules in the uranium sector in Canada.

The government’s move to liberalize the rules comes after Red Wilson’s competition policy review panel recommended it in 2008. However, the panel said that liberalization should happen only if other countries open their markets as well.

That was a key request from Cameco Corp., the world’s biggest uranium miner. Right now, Saskatoon-based Cameco is forbidden from investing in many countries because of foreign investment restrictions. Chief executive Jerry Grandey has said it would be a mistake to change Canada’s current policy “without demanding benefits flowing in the other direction.”

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