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 over the four-year construction period for one of the world’s largest new uranium sources.
The groundbreaking ceremony took place at the mine site with Premier Scott Moe and former prime minister Stephen Harper among the speakers. Construction has initiated on the surface infrastructure, and shaft development is slated to begin in 2027. Additionally, the current 914-meter airstrip is being extended to 1,780 meters.
NexGen CEO Leigh Curyer recounted the challenges faced in reaching this point. After initial setbacks, a significant mineralization discovery was made, propelling the project into one of the most crucial energy ventures globally. The mine is forecasted to contribute towards meeting the escalating demand for electricity.
Upon full operation, the mine is expected to generate up to 30 million pounds of uranium annually, constituting approximately 20% of the global supply. The Canadian Nuclear Safety Commission has granted NexGen a construction permit, with an operational license application pending.
The mine is projected to create 459 full-time positions and have a lifespan of 24 years. NexGen has enlisted the support of Indigenous communities in the vicinity, securing benefit agreements that encompass employment opportunities, training assurances, and financial benefits.
Premier Scott Moe emphasized the significance of responsible resource development, highlighting the economic benefits and clean energy contributions that projects like this can offer. Uranium mining plays a vital role in the region, employing over 2,300 individuals, with nearly half of them being local residents.
In parallel, construction is underway for another uranium mine in northern Saskatchewan by Denison Mines Corp. The Phoenix uranium mine and mill site in the eastern Athabasca Basin is expected to commence production in 2028, utilizing an innovative in-situ recovery method.
Denison Mines aims to operate the mine for a decade, tapping into substantial uranium reserves. This strategic development aligns with the region’s economic growth and clean energy goals, positioning Saskatchewan as a key player in the global nuclear energy landscape.