PRO NUKE LOBBY
SaskPower, SRC join nuclear energy not-for-profit group

Story by Alec Salloum • Leader Post


Minister Responsible for SaskPower Dustin Duncan speaks during a press conference to announce the relationship between SaskPower, Saskatchewan Research Council and the CANDU Owners Group at SaskPower head offices on Monday, April 29, 2024 in Regina.© Provided by Leader Post

The province has made another small step in its nuclear journey as SaskPower and the Saskatchewan Research Council (SRC) join a nuclear energy not-for-profit corporation.

The two entities are now members of the CANDU Owners Group (COG), which consists of groups operating CANDU (Canada Deuterium Uranium) reactors in Canada and around the world, as well as researchers, suppliers and other nuclear industry members.

Canadian CANDU clients include ​New Brunswick Power​, Ontario Power Generation and the privately-owned Bruce Power. It also has reactors in operation in China, India, South Korea and Argentina.

SaskPower “has an obligation to make the most informed decisions possible whether to proceed with SMRs [small modular reactors] in 2029,” said Dustin Duncan, minister responsible for the Crown corporation, who argued that becoming a member of COG will help achieve that.

“Regardless of what happens at the federal level, SaskPower needs to continue to do its due diligence as to whether or not (building) small modular reactors is going to be a part of the energy mix in Saskatchewan,” Duncan said during a joint announcement Monday morning.

Related video: Sask. residents will get carbon tax rebates despite province withholding funds (cbc.ca) Duration 2:01  View on Watch

COG is “the primary technical group in Canada” when it comes to the operation of nuclear reactors and projects, he added.

As electrical demands grow alongside an expanding population, and carbon-producing power generation becomes subject to greater federal regulations, Duncan said the province will need to find other ways to provide affordable power to customers.

At the same time, the government is set to announce an “innovative incentive” on Tuesday that aims to achieve a plan to increase oil production in Saskatchewan by 25 per cent through a new multi-lateral well program.

“We will benefit from the experience of other Canadian nuclear utilities and international nuclear organizations,” said SaskPower president and CEO Rupen Pandya, who added that the Crown’s membership stands to capitalize on more than 40 years of collective work in the sector.

“We’re partnering with organizations who have significant expertise and experience in the nuclear industry to leverage their knowledge and insights.”

By 2029, the province is expected to decide whether it will even build SMRs, with an operational plant not in the cards until the early- to mid-2030s. Currently, two locations around Elbow and Estevan are being considered for a potential future SMR site.

“I think we’ll be ready by the end of the summer, if not earlier, with respect to a narrowing of the two regions,” said Pandya.

While site selection wasn’t meant to be completed until 2025, Pandya said the overall timelines “remain unchanged.”

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Over three years, SaskPower will spend $600,000 on a membership to the organization.

COG president Rachna Clavero said the SRC and SaskPower are the first new members in almost two decades, when a CANDU reactor was built in China.

“We want to help each other in the industry. While it is large, it’s also small in the sense that any incident anywhere impacts everyone,” said Clavero. “It’s very important that all of these provinces work together.”

CANDU reactors are larger-scale, generating between 700 to 1,000 megawatts. The SMR design previously selected by SaskPower, the GE Hitachi BWRX-300, can produce approximately 300 MW.

When SaskPower announced its partnership with GE Hitachi for SMR planning in January, Pandya said they were working as fast as they could to meet a 2050 target “by exploring a range of reliable and carbon-free solutions, including nuclear power.”

The Crown has remained firm that 2050 is a more realistic goal to achieve net-zero power generation for Saskatchewan, rather than the federal target of 2035.

alsalloum@postmedia.com

 

Uranium miner Cameco reports $7M Q1 loss, revenue down from year ago

The Canadian Press

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Cameco Corp. reported a loss in its latest quarter as it was hit by charges related to its acquisition of a stake in Westinghouse Electric Co., one of the world's largest nuclear services businesses.

The uranium miner says it's loss attributable to equity holders amounted to $7 million or two cents per diluted share for the quarter ended March 31 compared with a profit of $119 million or 27 cents per diluted share a year earlier.

Revenue totalled $634 million, down from $687 million in the same quarter last year.

On an adjusted basis, Cameco says it earned 13 cents per share in its latest quarter, down from 27 cents per share a year earlier.

Last year, Cameco and Brookfield Renewable Partners closed their deal to buy Westinghouse Electric for US$4.5 billion plus assumed debt.

Under the deal, Brookfield Renewable, with its institutional partners, hold a 51 per cent stake, while Cameco owns 49 per cent.

This report by The Canadian Press was first published April 30, 2024.

 

Progress reported on bid to sell insolvent media companies SaltWire and The Herald

The Canadian Press

Newspapers owned by SaltWire Network Inc. are photographed in Halifax on Tuesday, March 12, 2024. A media expert says the decision by Atlantic Canada's largest newspaper company to seek protection from its creditors is another sign of the accelerating decline of the newspaper business. , THE CANADIAN PRESS/Darren Calabrese

A Nova Scotia judge received good news today during an update on the proposed sale of the SaltWire Network and The Halifax Herald, two financially troubled companies that operate Atlantic Canada's largest newspaper chain.

Those shepherding the restructuring process told Nova Scotia Supreme Court Justice John Keith that progress is being made toward securing a deal that could see all or part of the insolvent businesses sold to one or more bidders.

On March 13 and again on March 22, Keith granted the companies protection from creditors who are owed about $90 million, and another extension was granted today until June 28.

A lawyer representing the monitor overseeing the restructuring told the judge that "everything has unfolded the way it was supposed to."

Last week, a report from the monitor — Toronto-based KSV Restructuring — confirmed that several bidders have submitted non-binding offers to buy all or part of the two companies.

The KSV report says some of those non-binding offers, if accepted, would allow the deeply indebted companies to continue operating as viable businesses.

The next step is for KSV to determine which bidders will be asked to submit binding offers by May 24 at 5 p.m., which could lead to court approval for a transaction no later than June 28 and an anticipated closing deadline of July 31.

This report by The Canadian Press was first published April 30, 2024.

Bidders express interest in buying all or part of SaltWire newspaper business

Michael MacDonald, The Canadian Press

The Chronicle Herald sign is seen in Halifax on Thursday, April 13, 2017. A Toronto-based restructuring firm says several bidders have offered to buy all or part of SaltWire Network and The Halifax Herald, the two companies that operate Atlantic Canada's largest newspaper enterprise. THE CANADIAN PRESS/Andrew Vaughan

Several bidders have offered to buy all or part of SaltWire Network Inc. and The Halifax Herald Ltd., the two insolvent companies that operate Atlantic Canada's largest newspaper enterprise, a restructuring firm says.

Toronto-based KSV Restructuring Inc., in a report filed Friday, said some of those non-binding offers, if accepted, would enable the deeply indebted companies to continue operating as viable businesses.

"As of the ... bid deadline, several indicative non-binding letters of intent were submitted from interested parties for all or part of the media companies' business and assets, including offers that, if completed, would see the business continue on a going-concern basis," KSV's report says. 

The one-page report does not say how many bids were received by Thursday's initial bidding deadline, and it doesn't provide any details about who submitted the bids.

More than 250 prospective purchasers and potential investors were sent so-called teaser letters and non-disclosure agreements advising them of the sale process, KSV says.

Former SaltWire president and CEO Mark Lever has said he planned to submit a bid. Court documents show SaltWire and its related companies are owned by Lever and his wife Sarah Dennis through separate family trusts that each have a 50-per-cent stake in the private businesses. 

The next step is for KSV to conduct a due diligence process that will determine which bidders will be asked to submit binding offers by May 24 at 5 p.m., which could lead to court approval for a transaction no later than June 28 and an anticipated closing deadline of July 31.

The Halifax-based companies own daily newspapers in Nova Scotia, Prince Edward Island and Newfoundland and Labrador, including Halifax's Chronicle Herald, the Cape Breton Post in Sydney, N.S., the Telegram in St. John's and the Guardian in Charlottetown. They also own several digital publications.

The media companies employ about 800 independent contractors and 390 staff, which includes about 108 unionized positions.

Last week, KSV released another report confirming the media companies had met with representatives from the premiers' offices in Nova Scotia, P.E.I. and Newfoundland and Labrador to discuss the "restructuring proceedings."

As well, KSV said the media companies have cut some jobs and ended their contract with the international news agency Thomson Reuters. Bids have also been received for certain properties owned by SaltWire, including one building in St. John's, N.L., two buildings in Nova Scotia — one in Yarmouth, the other in Sydney —  and a printing plant in the Halifax area.

On March 11, a private equity firm filed court documents to initiate insolvency proceedings against SaltWire, The Herald and their related companies. Fiera Private Debt claims SaltWire and The Herald owe the firm $32 million after several years of mismanagement.

Two days later, a Nova Scotia Supreme Court judge granted the media companies and their subsidiaries protection from creditors owed about $90 million. As well, the judge appointed KSV as the monitor overseeing the restructuring process under the Companies' Creditors Arrangement Act.

As the media companies' senior secured lender, Fiera has supported that process. Fiera loaned $500,000 to the companies on March 13 and then added another $1.5 million on March 22 to keep them operating.

That financial arrangement will continue until May 3, at which point SaltWire and The Herald will likely apply for another extension under CCAA. At that point, KSV says it will ask the court to extend creditor protection until June 28.

"The principal purpose of these CCAA proceedings is to create a stabilized environment to enable the companies, particularly the media companies, to secure financing to continue to operate while (they) pursue a restructuring or sale of their businesses and assets," KSV says in a report dated April 23.

 

Airline caterer Gate Gourmet reaches tentative deal with striking workers

The Canadian Press

Food service workers say they have reached a tentative agreement with airline caterer Gate Gourmet nearly two weeks after walking off the job, meaning travellers through Toronto may soon find a full menu option on flights once again. A worker walks on the tarmac at the Halifax Stanfield International Airport in Halifax on Thursday, Jan. 4, 2018. THE CANADIAN PRESS/Andrew Vaughan

Airline caterer Gate Gourmet has reached a tentative agreement with food service workers nearly two weeks after they walked off the job, meaning travellers through Toronto may soon find a full menu option on flights once again.

A ratification vote will take place throughout Monday and if workers approve the collective agreement, Teamsters Canada said employees will be back on the job Tuesday.

About 800 catering workers at Toronto's Pearson airport went on strike on April 16, leaving thousands of passengers without meals.

The employees cook, package and deliver food and drinks to planes for service on board, with Air Canada and WestJet having to limit meal offerings after the job action.

The tentative agreement comes after Ontario mediators called the picketing workers back to the table Friday for talks with the Swiss-owned Gate Gourmet.

The company declined to comment on the development Monday morning.

When the strike kicked off, Air Canada said short-haul flights would be most affected. Economy-class customers on flights under two hours would receive a pretzel or cookie along with water, while those in business class would not enjoy their usual hot meal service, the airline said.

WestJet said two weeks ago that flights operating through Pearson on Boeing 737 planes — the vast majority of its fleet — may experience "an inconsistent food or beverage offering."

Gate Gourmet is the largest airline catering company operating out of Toronto, with clients that include Air Canada, WestJet, United Airlines and Delta Air Lines. Owned by Gategroup, it operates in more than 135 locations in 33 countries, according to its website. Those figures include eight airports in Canada.

Details of the tentative deal — finalized by negotiators over the weekend — were being withheld from the public until workers had a chance to see them, the union said Sunday night.

"I would like to thank our members for their incredible courage and solidarity, and salute everyone who supported us throughout this process," said Martin Cerqua, president of the union local, in a release.

This report by The Canadian Press was first published April 29, 2024.

Stephen Hawking's eerie alien theory might explain why we've never been contacted

Story by Jake Brigstock •

Indy 100
Stephen Hawking Said It Would Destroy Us... But Scientists Are Doing It 

Duration 8:42 View on Watch

A  theory as to why we haven't heard from aliens which renowned theoretical physicist and cosmologist Stephen Hawking agreed with has resurfaced online.

Planet Earth is about the size of a speck of dust when compared to the whole universe and the likelihood of there being other intelligent life out there is pretty high, even though it's a scary thought, right?

Scientists and experts have a number of theories as to why that is but a particular one that Stephen Hawking agreed with has come up again online, getting a lot of people talking.

Actor and author Kalpana Pot posted a TikTok video on her account summing up the theory.

In the video, she says: "Take a look at our Milky Way galaxy. Some estimates say it has 400 billion stars and possibly trillions of planets.

"Even if a tiny fraction of those planets have intelligent life, that's still a big number - small amounts in space terms is still a lot.

"We've been scanning the skies for signals for over 60 years but it's been radio silent, so to speak.

"We've been sending out our own signals intentionally and unintentionally for over a century yet no responses and that's where the paradox comes in.

"So again, in such a vast universe and galaxy, where the f**k is everyone?"





Kalpana goes on to share what she describes as the 'darkest' theory out there.

"There are lots of answers, well, opinions to this question but there's one that stands out as the darkest and that's the 'dark forest hypothesis'," she says.

"It states that there probably is a lot of intelligent life but they know to stay silent.

"They could be too afraid to send signals for fear of being discovered because maybe there's a d*******g alien civilisation out there that will completely eliminate you.

"When you look at all life on Earth, at our core, we're just trying to survive and will eliminate any threat we perceive.

"This could be true for all life out there and if that's the case and we've sent a lot of signals, we might have f****d ourselves.

"This hypothesis could also be projecting, we don't know, but it is one that Stephen Hawking agreed with."

A number of users commented on the video.

Wayne Luke said: "Space is also very vast... Trillions could be screaming into the void and we may never hear them."

Baugnasty said: "The dark forest theory is kind of unsettling."

Carl_Nelsnow said: "Isn't it more likely that the civilizations are too far apart from each other to ever communicate or travel between?"


Tiny goat said: "Life is everywhere in the universe! Everyone is just so far apart and cannot communicate!"

Hers said: "If we only been sending signals for 100 years... They probably haven't traveled far enough."