06:25 AM EST, 01/17/2025 (MT Newswires) -- Cameco ( CCJ ) late on Thursday expressed support for the resolution reached by Westinghouse Electric in its intellectual property dispute with Korea Electric Power and Korea Hydro & Nuclear Power.

Implementation of the settlement agreement establishes a framework for additional deployments to the benefit of all parties, Cameco ( CCJ ) said.

"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, dispatchable baseload electricity to help achieve climate, energy and national security objectives," said Cameco ( CCJ ) President and CEO Tim Gitzel.

Cameco ( CCJ ) is a global provider of uranium fuel and holds a 49% stake in Westinghouse. Brookfield Asset Management owns the rest.

Cameco's ( CCJ ) share price edged 0.3% higher to US$49.66 in U.S. pre-market trading on Friday.