Construction has commenced on a new uranium mine in the northern region of Saskatchewan. NexGen Energy Ltd. is in the process of constructing an underground uranium mine in the southern Athabasca Basin, approximately 130 kilometers north of La Loche. The company plans to invest $2.2 billion over a four-year period to develop one of the world’s largest uranium sources.
A groundbreaking ceremony was recently held at the mine site, attended by notable figures such as Premier Scott Moe, former Prime Minister Stephen Harper, and local leaders from Metis Nation-Saskatchewan. The initial focus is on constructing surface infrastructure, with shaft development scheduled to begin in 2027. Additionally, the existing 914-meter airstrip is being expanded to 1,780 meters.
NexGen CEO Leigh Curyer reflected on the journey leading to this milestone. He recounted the challenges faced in the early stages of exploration, emphasizing the significant discovery made in 2014 that marked the beginning of a groundbreaking energy project.
The new mine is expected to address the escalating demand for electricity, with Curyer highlighting the vital role of nuclear energy in meeting global energy needs. The company anticipates an annual uranium production capacity of up to 30 million pounds, accounting for approximately 20% of the current global supply.
Following approval from the Canadian Nuclear Safety Commission for construction, NexGen will seek a license to operate the mine. Once operational, the mine is projected to create 459 full-time jobs and operate for 24 years, contributing to the economic growth of the region.
Endorsements from Indigenous communities near the project site have been secured, with benefit agreements signed to ensure community involvement and economic benefits. Premier Scott Moe emphasized the importance of responsible resource development that benefits local communities and supports clean energy initiatives.
In a related development, Denison Mines Corp. is constructing the Phoenix uranium mine and mill site in the eastern Athabasca Basin. The project, estimated to cost $600 million, is expected to utilize an innovative in-situ recovery method for uranium extraction. Denison plans to operate the mine for a decade, leveraging substantial uranium reserves to contribute to the province’s mining industry.
