Westinghouse Electric Company, which Saskatoon-based Cameco has ownership interests in, announced on Thursday that a resolution has been reached in Westinghouse’s intellectual property dispute with Korea Electric Power Corporation and subsidiary, Korea Hydro & Nuclear Power. Cameco’s second quarter result from last year explains that Westinghouse believed that critical elements of the Korean technology were effectively Westinghouse’s.

Cameco’s President and CEO, Tim Gitzel, considers this a positive outcome for all parties. He says, “With more than 30 countries and over 100 companies pledging to triple nuclear capacity by 2050, the demand for nuclear power is undeniable. This agreement strengthens the industry’s ability to provide carbon-free, reliable, baseload electricity.”