Three Canadian premiers agreed they want more nuclear power in a meeting of like minds prior to the Council of Federation in December. Ontario, Saskatchewan and New Brunswick premiers signed a memorandum of understanding to work together to get small modular reactors (SMRs).
Mini yet mighty, these nuclear power reactors could replace coal and diesel power. In remote locations, they would give Canadians access to clean, green, stable energy and reduce their power pollution footprint.
And note to investors, if the government wants more nuclear power, they will want more uranium. In 2018, more uranium was mined in Canada than any other country – 531,608 tU, about one-fifth of the world total.
The case for SMRs
Despite still being on the drafting table in Canada, SMRs are striking a power chord in the green energy hungry world. These efficient power plants may produce less than 300 electrical megawatts (MWe), but can be easily constructed, moved and installed. Even off-grid. Multiple units can be linked to supply more power. For Canada’s vast, remote northern lands, the solution makes perfect sense.
Look for SMRs to be of greatest benefit to two areas of the Canadian landscape: remote indigenous communities and large, heavy industry sites like mining. For remote indigenous communities SMRs would replace diesel generators—reducing air and noise pollution in the community and for the fuel delivery.
For the rest of this column: https://investorintel.com/sectors/uranium-energy/uranium-energy-intel/why-3-premiers-want-their-own-nukes/