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Why Won't Brad Wall Let The Free Market Decide?

Uranium Mine Shutdowns Could Be An Opportunity For Renewables

by Daniel Johnson

Why Won't Brad Wall Let The Free Market Decide?
Why Won't Brad Wall Let The Free Market Decide?
 
 

On Nov. 15, 2017, Saskatchewan Premier Brad Wall's Twitter account posted video of his speech in support of Saskatchewan's currently troubled uranium industry, promising to help through 'competetive' (meaning very low) resource royalty rates and the use of government resources to help companies like Cameco find new markets in countries like China and India.

In his speech, Wall also criticized the opposition NDP members who had expressed concern for laid off workers, citing anti-nuclear sentiment within the NDP as 'sending signals' to uranium companies and investors that Saskatchewan may restrict uranium development in the future if the NDP gains power in a future election. 

 

 

This speech is a follow up to a tweet last week, on Nov. 9, regarding Cameco's announcement of mass lay offs at their Key Lake and McArthur River mines.

 

 

The mine shutdowns mean 845 layoffs, potentially permanent, while 210 workers would stay to maintain a safe shutdown mode. Uranium prices have fallen over 70 per cent Fukushima disaster in 2011, Cameco already suspended operations, laying off 500 workers, in April, 2016 at their Rabbit Lake mine. They've lost $124 million in the fiscal quarter ending on Oct. 27.


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