Construction has officially commenced on a new uranium mine in northern Saskatchewan. NexGen Energy Ltd. is initiating the development of an underground uranium mine in the southern Athabasca Basin, situated approximately 130 kilometers north of La Loche. The company anticipates investing $2.2 billion during the four-year construction phase of one of the globe’s largest upcoming uranium sources.
In a groundbreaking ceremony held at the mine site, key figures including Premier Scott Moe, former prime minister Stephen Harper, and local leaders from Metis Nation-Saskatchewan attended. Initial activities include the construction of surface infrastructure, with shaft development slated to commence in 2027. Notably, the current 914-meter airstrip is undergoing expansion to 1,780 meters.
Reflecting on the project’s inception, NexGen CEO Leigh Curyer remarked on the journey leading to this milestone. He highlighted the discovery of mineralization in 2014 after initial setbacks, emphasizing the project’s significance as a pivotal energy fuel initiative globally.
Stressing the importance of the mine in meeting escalating electricity demands, Curyer underscored the critical role of nuclear energy and uranium as strategic resources in the evolving landscape of energy needs. The company projects an annual production capacity of up to 30 million pounds (over 13,000 tonnes) of uranium, which could potentially account for around 20% of the current global supply.
Following approval from the Canadian Nuclear Safety Commission for construction and pending licensing for operation, the mine is expected to generate 459 full-time jobs and operate for a projected 24-year lifespan. NexGen has garnered support from Indigenous communities impacted by the project, with benefit agreements in place to ensure local employment, business contracts, and financial benefits.
Premier Scott Moe emphasized the economic opportunities the mine presents for the region, emphasizing the ethical development of resources to benefit local communities and contribute to global clean energy needs. Additionally, partnerships with Indigenous groups signal a commitment to inclusive growth and sustainable practices.
Further developments in the region include the initiation of construction on another uranium mine by Denison Mines Corp. The Phoenix uranium mine and mill site in the eastern Athabasca Basin is projected to commence production in 2028, utilizing innovative in-situ recovery methods. With an estimated 10-year operational lifespan and substantial uranium reserves, the Denison mine represents a significant addition to Saskatchewan’s mining landscape.
These endeavors underscore Saskatchewan’s strategic positioning in the global energy sector, aligning with clean energy goals while fostering economic growth and community development in the region.
