An agreement was signed today (Thurs) between China and Canada that is good news for Saskatchewan's uranium companies.

It's a protocol agreement that broadens the existing Canada-China nuclear co-operation agreement.

It has yet to be ratified, but Cameco spokesperson Rob Gereghty says this signing is a key milestone in negotiations which will ultimately mean the export of Canadian uranium for peaceful use by Chinese utilities.

That means more jobs and more development.

Cameco signed two agreements with Chinese utilities in 2010 for about 52-million pounds of uranium concentrate.

Gereghty says this new agreement will allow shipping from Canadian sources instead of from other sources, like for example Kazakhstan.

China currently has 14 nuclear reactors in operation, with more than 25 under construction.

Saskatoon-based Cameco is one of the world's largest uranium producers.

(ct july19/12)