The Saudi Nuclear Deal Isn’t a Uranium Story for Cameco. It’s a Westinghouse Story. Cameco, the uranium miner with a 49% stake in Westinghouse, has emerged as a significant player in the US Saudi Arabia nuclear deal.
While the agreement between the two countries opens up opportunities for US companies to sell reactor technology and equipment to Saudi Arabia, Cameco's connection to Westinghouse gives it an edge over its competitors.
The company benefits from the sale of not just uranium but also reactor technology, thanks to its stake in Westinghouse, which is building the AP1000 reactors at the center of this deal.