Natural Resources committee  Uranium concentrate is essentially yellow cake, so that's what I mean by that. Yes, our facilities in Ontario at Port Hope, Cobourg, and Blind River are essentially that. They add value to the product. They are a conversion, refining, and fuel fabrication facility, particularly for the CANDU reactors.

Natural Resources committee  What's interesting is even with the tremendous growth we're seeing in China, nuclear as a percentage of China's overall energy picture isn't really shifting. What's happening is the overall pie is growing. I think the International Energy Agency projected that between 2010 and 2035, global world energy consumption was going to increase by 75%.

Natural Resources committee  Yes, it's certainly Cameco's intention to be vertically integrated as a nuclear energy company. We are active in other value-added aspects of the fuel chain. The majority of our focus, the majority of our business happens to be uranium mining and so forth. I don't think you'd hear a whole lot different from any of the witnesses you have before you today.

Natural Resources committee  Thank you, Mr. Trost. Yes, there is quite a robust regulatory regime on the non-proliferation aspect of the nuclear energy sector, with some very stringent international safeguards as well as bilateral safeguards between the two nations in question. No trade in products or technologies of a nuclear—

Natural Resources committee  Okay. It should also be noted, in addition to India and China, that recently the one with United Arab Emirates was another one that was concluded, as well as one with Russia. The significance of one like the United Arab Emirates is that it highlights another area of future expansion; the next frontier for nuclear energy might be some Middle Eastern nations.

Natural Resources committee  It's a bit of both, actually. In some cases the federal government has initiated discussions with various countries. The United Arab Emirates was one; South Africa was another. I don't believe anyone in the Canadian industry actually approached the federal government about initiating these, but the government saw an opportunity and took it, to its credit.

Natural Resources committee  Sure, start yesterday, if you have the opportunity. Notably, the one with China was in place in 1994, but it did not cover uranium concentrates, which is what the Chinese are now buying. What was actually done in recent months and years was a protocol agreement which is almost like an attachment or an amendment to the existing NCA that has been in place for some time.

Natural Resources committee  Thank you, Mr. Chair, and my thanks to your committee for inviting Cameco here today to share our views on the importance of market diversification to Canada's energy sector. I'd like to begin today by telling you a bit more about our company before talking about the evolving market for our products, and ending with a quick synopsis of what the federal government can do to help facilitate market access for Canadian players in this industry.

Natural Resources committee  It's Jeff Hryhoriw. If you take off the first and last letters you might stand a chance.