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 a four-year construction period to develop one of the world’s largest new uranium sources.
A groundbreaking ceremony was held at the mine site, with Premier Scott Moe and former Prime Minister Stephen Harper among the speakers, along with local leaders from Metis Nation-Saskatchewan and Desnethé-Missinippi-Churchill River MP Buckley Belanger.
The construction work has started on surface infrastructure, with shaft development slated to commence in 2027. As part of the development, the existing 914-meter airstrip is being expanded to 1,780 meters.
NexGen CEO Leigh Curyer described the journey to reach this point, mentioning the initial challenges faced by the company in establishing the project from scratch. He recalled the breakthrough moment in January 2014 when significant mineralization was discovered on the eighth drill hole, marking the beginning of what is now deemed a crucial energy project.
Highlighting the significance of the mine, Curyer emphasized its role in meeting the increasing demand for electricity driven by technological advancements. The company estimates that the mine could potentially yield up to 30 million pounds of uranium annually, contributing around 20% of the global supply.
In March, the Canadian Nuclear Safety Commission granted NexGen a license for construction, with operational licensing yet to be pursued. Once operational, the mine is expected to create 459 full-time jobs and have a projected lifespan of 24 years, with ongoing exploration activities in the area for potential future developments.
NexGen has secured backing from local Indigenous communities affected by the project, signing benefit agreements with Clearwater River Dene Nation, Birch Narrows Dene Nation, Buffalo River Dene Nation, and Métis Nation—Saskatchewan. These agreements typically include provisions for employment, training, local business contracts, and financial benefits.
Premier Scott Moe emphasized the regional benefits of the project, highlighting the potential for long-term career opportunities and community growth. With uranium mining already employing over 2,300 people in the province, Moe stressed the importance of ethically developing resources like uranium to meet global energy demands sustainably.
In addition to the uranium mine by NexGen, another uranium mine is under construction in northern Saskatchewan by Denison Mines Corp. The Phoenix uranium mine and mill site in the eastern Athabasca Basin is estimated to commence production in 2028, utilizing an innovative in-situ recovery method for uranium extraction.
Denison plans to operate the mine for a decade, leveraging its substantial uranium reserves to contribute to the local and global energy needs efficiently.
