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.
Good to see this morning that Cameco will pay laid off workers 75% of salary with benefits during the 10-month temp layoff.
With stubbornly low prices we must continue to support our uranium industry & those it employs by opening new markets & ensuring competitive royalties. pic.twitter.com/suVVGzQLIc
— Brad Wall (@PremierBradWall) November 15, 2017
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.
Thinking of affected workers during the temporary shutdown at Cameco's Key Lake/McArthur River mines. SK's rapid response team available to help.
SK's proud of women & men who develop our uranium. We'll work hard to continue opening up markets for it like in India & China.
— Brad Wall (@PremierBradWall) November 9, 2017
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.