Construction commences on a fresh uranium mine in the northern region of Saskatchewan. NexGen Energy Ltd. initiates the development of an underground uranium mine in the southern Athabasca Basin, situated approximately 130 kilometers north of La Loche. The project is anticipated to cost $2.2 billion throughout the four-year construction phase, marking one of the world’s largest upcoming uranium sources.
During a groundbreaking ceremony at the mine site, Premier Scott Moe and former Prime Minister Stephen Harper, alongside local leaders from Metis Nation-Saskatchewan and Desnethé-Missinippi-Churchill River MP Buckley Belanger, delivered speeches. The construction activities have kicked off with the establishment of surface infrastructure, while shaft development is slated to commence in 2027. Additionally, the current 914-meter airstrip is undergoing expansion to reach 1,780 meters.
NexGen CEO Leigh Curyer reflected on the journey leading to this milestone, highlighting the initial challenges faced since their arrival in 2012. Despite encountering setbacks, a breakthrough occurred in 2014 when mineralization was discovered on the eighth drill hole, unveiling the potential of the project as a significant energy resource.
The envisioned mine is poised to address the surging electricity demand, as highlighted by Curyer, who emphasized the pivotal role of nuclear energy in meeting the global energy requirements. The company projects an annual yield of up to 30 million pounds (over 13,000 tonnes) of uranium, contributing approximately 20% to the existing global supply.
Following the issuance of a construction and milling license by the Canadian Nuclear Safety Commission in March, NexGen is preparing to apply for an operational license. Once operational, the mine is expected to generate 459 full-time positions and operate for a span of 24 years, with ongoing exploration activities hinting at additional uranium prospects in the vicinity.
Endorsements from Indigenous communities impacted by the project have been secured, with agreements in place with Clearwater River Dene Nation, Birch Narrows Dene Nation, Buffalo River Dene Nation, and Métis Nation-Saskatchewan. These agreements, which encompass employment guarantees, training opportunities, and financial benefits, are instrumental in fostering local community development.
Premier Scott Moe underscored the significance of responsible resource development, emphasizing the ethical and sustainable approach adopted to benefit the local populace while contributing to the global nuclear energy landscape. With uranium mining playing a vital role in the provincial economy, Moe highlighted the strategic importance of such initiatives for Saskatchewan’s future energy needs.
In parallel, Denison Mines Corp. is advancing the construction of the Phoenix uranium mine and mill site in the eastern Athabasca Basin region, with an estimated initial capital outlay of $600 million and a targeted production commencement in 2028. The Denison mine is poised to implement an innovative in-situ recovery method, extracting uranium using an acidic solution, showcasing a progressive approach to mining operations. The company anticipates a 10-year operational span, backed by substantial proven and probable uranium reserves at the Phoenix project site.
