Canada Not Planning to Further Ease Uranium Investment Rules

Mining Weekly reported that Canada has no current plans to further ease rules for foreign investment in uranium mines.

The publication reported that while Ottawa waived a long standing requirement last year that had European buyers take on Canadian partners in uranium mines, the government has no plans of extending the same offer to non-European companies.

Natural Resources Minister Joe Oliver said Canada did not intend to make the same offer to non-European companies such as Australia’s Rio Tinto Ltd, which has uranium deposits in northern Saskatchewan.

“There are no current plans to do that,” he told reporters, saying the easing of rules for European firms was a major step.

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