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, approximately 130 kilometers north of La Loche. The company plans to invest $2.2 billion during the four-year construction phase to establish one of the world’s largest new uranium sources.
During a groundbreaking ceremony at the mine site, Premier Scott Moe and former Prime Minister Stephen Harper, along with local leaders from Metis Nation-Saskatchewan and Desnethé-Missinippi-Churchill River MP Buckley Belanger, delivered speeches. Initial construction activities are focusing on surface infrastructure, with shaft development scheduled to commence in 2027. Moreover, the existing 914-meter airstrip is undergoing expansion to 1,780 meters.
NexGen CEO Leigh Curyer reflected on the journey leading to this milestone. He mentioned the challenges faced since their arrival in 2012, where initial exploratory drilling did not yield results. However, in January 2014, on the eighth drill hole, they discovered mineralization, marking the beginning of what Curyer described as the world’s most significant energy fuel project.
The uranium mine is expected to address the increasing demand for electricity. Curyer emphasized the shifting global landscape with advancements in technology, manufacturing, electrification, and energy security driving the need for electricity. He highlighted the strategic importance of uranium as a key resource in meeting this demand.
Projections indicate that the mine could produce over 30 million pounds (13,000+ tonnes) of uranium annually, representing approximately 20% of the current global supply. In March, the Canadian Nuclear Safety Commission granted NexGen a construction and milling license, with future licensing required for operational purposes.
Once operational, the mine is set to create 459 full-time jobs and operate for a projected lifespan of 24 years. Ongoing exploration in the region suggests the potential development of nearby uranium deposits. NexGen has secured endorsements from Indigenous communities affected by the project, with benefit agreements signed with several groups, including Clearwater River Dene Nation, Birch Narrows Dene Nation, Buffalo River Dene Nation, and Métis Nation—Saskatchewan.
Premier Scott Moe emphasized the economic opportunities this project presents for the local population. He stressed the importance of responsible resource development that benefits the region’s residents while contributing to the global nuclear power industry, in which Saskatchewan aims to participate.
In a separate endeavor, NexGen collaborated with Clearwater River Dene Nation and Métis Nation—Saskatchewan Local 39 to construct a 59-bed hotel in La Loche. Meanwhile, Denison Mines Corp. is progressing with the construction of the Phoenix uranium mine in the eastern Athabasca Basin. This mine, estimated to cost $600 million, is anticipated to commence production in 2028, potentially utilizing an innovative in-situ recovery method to extract uranium reserves.
Denison plans to operate the mine for a decade, with an estimated uranium reserve of 56.7 million pounds according to the Phoenix project website.
