Construction has officially commenced on a new uranium mine in northern Saskatchewan. NexGen Energy Ltd. is constructing an underground uranium mine in the southern Athabasca Basin, approximately 130 kilometers north of La Loche. The company anticipates investing $2.2 billion during the four-year construction phase of one of the world’s largest new uranium sources.
The groundbreaking ceremony for the mine took place recently, where Premier Scott Moe, former Prime Minister Stephen Harper, local leaders from Metis Nation-Saskatchewan, and Desnethé-Missinippi-Churchill River MP Buckley Belanger addressed the attendees. Initial construction activities are focused on surface infrastructure, with shaft development scheduled to commence in 2027. The existing 914-meter airstrip is undergoing expansion to 1,780 meters.
NexGen CEO Leigh Curyer reflected on the journey leading to this milestone, highlighting the challenges faced and the eventual discovery of significant mineralization in the area. The company envisions the mine as a crucial asset in meeting the escalating global demand for electricity, driven by advancements in technology and energy security needs.
The projected production capacity of the mine stands at up to 30 million pounds (over 13,000 tonnes) of uranium annually, potentially contributing around 20% to the current global supply. NexGen recently obtained a construction and milling license from the Canadian Nuclear Safety Commission, with further licensing required for operational activities.
Upon full operation, the mine is expected to generate 459 full-time employment opportunities and sustain operations for 24 years. Continuous exploration in the region suggests the possibility of developing additional uranium deposits in the future. The company has secured support from Indigenous communities affected by the project, signing benefit agreements that typically include provisions for employment, training, and financial benefits.
The significance of this mining project was emphasized by Premier Scott Moe, who highlighted the economic and developmental opportunities it presents for the region. Uranium mining already plays a vital role in Saskatchewan’s economy, providing employment to over 2,300 individuals, with a substantial portion of the workforce being local residents.
In parallel, Denison Mines Corp. is advancing with the construction of the Phoenix uranium mine and mill site in the eastern Athabasca Basin. This new project, estimated to cost $600 million, may pioneer the use of an innovative in-situ recovery method for uranium extraction. Denison aims to commence production by 2028, operating the mine for at least a decade.
Both mining initiatives underscore Saskatchewan’s strategic role in uranium production, aligning with the province’s commitment to ethical resource development that benefits local communities while contributing to the global nuclear energy sector’s growth.