Canada's Harper Proposes to Allow More Foreign Investment in Uranium Sector

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Prime Minister Stephen Harper, campaigning in Nova Scotia for a general election to be held on Oct 14, said a reelected Conservative government would lift foreign ownership restrictions in the sector from the current limit of 49 percent, provided other countries involved also open up their markets.

Canadian uranium producer Cameco Corp will remain essentially takeover-proof despite a proposal by Prime Minister Stephen Harper to allow increased foreign investment in uranium mining, a Conservative spokesman said on Friday.

Harper, campaigning in Nova Scotia for a general election to be held on Oct 14, said a reelected Conservative government would lift foreign ownership restrictions in the sector from the current limit of 49 percent, provided other countries involved also open up their markets.

Analysts said lifting such restrictions could allow more cross-border takeovers...

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