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.
During a groundbreaking ceremony at the mine site, Premier Scott Moe and former prime minister Stephen Harper delivered speeches, along with local leaders from Metis Nation-Saskatchewan and Desnethé-Missinippi-Churchill River MP Buckley Belanger. Initial construction activities have begun on the surface infrastructure, with shaft development scheduled to commence in 2027. Additionally, 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, highlighting the breakthrough in mineralization during drilling in 2014. This discovery marked the beginning of what Curyer described as the world’s most significant energy fuel project.
The uranium mine is positioned to address the surging demand for electricity, with Curyer emphasizing the evolving landscape driven by artificial intelligence, advanced manufacturing, electrification, and energy security. Nuclear energy, he stated, plays a crucial role in meeting this demand, making uranium a strategic global resource.
NexGen estimates that the mine could yield up to 30 million pounds (over 13,000 tonnes) of uranium annually, constituting around 20% of the current global supply. In March, the Canadian Nuclear Safety Commission granted NexGen a construction and milling license, with an operational license application pending.
Upon full operation, the mine is projected to create 459 full-time positions and operate for 24 years. Ongoing exploration in the area indicates the potential development of adjacent uranium deposits in the future. NexGen has secured endorsements from Indigenous communities affected by the project, signing benefit agreements that typically include employment guarantees, training programs, and financial benefits for local businesses.
Premier Scott Moe emphasized the regional opportunities presented by the project, underscoring the importance of ethical resource development that benefits local communities. Uranium mining in Saskatchewan already employs over 2,300 individuals, with nearly half of the workforce residing in the northern regions according to the Saskatchewan Mining Association.
The Denison Mines Corp. is also advancing in northern Saskatchewan, with construction underway for the Phoenix uranium mine and mill site in the eastern Athabasca Basin. The mine, expected to employ an in-situ recovery method, is estimated to commence production in 2028, operating for a decade. Denison projects a significant uranium reserve of 56.7 million pounds in proven and probable reserves, as outlined on the Phoenix project website.