Construction has commenced on a new uranium mine in northern Saskatchewan, marking a significant milestone for NexGen Energy Ltd. The company is developing an underground uranium mine in the southern Athabasca Basin, located approximately 130 kilometers north of La Loche. With a projected investment of $2.2 billion over a four-year construction period, this mine is expected to become one of the world’s largest uranium sources.
Recently, NexGen held a groundbreaking ceremony at the mine site, attended by notable figures such as Premier Scott Moe and former Prime Minister Stephen Harper. Local leaders from Metis Nation-Saskatchewan and Desnethé-Missinippi-Churchill River MP Buckley Belanger also participated in the event.
The construction activities are currently focused on surface infrastructure, with shaft development scheduled to commence in 2027. Additionally, the existing 914-meter airstrip is being expanded to 1,780 meters to support the operational needs of the mine.
Reflecting on the journey to this point, NexGen CEO Leigh Curyer recalled the challenges faced during the early stages of exploration. Despite initial setbacks, the discovery of significant mineralization in 2014 marked a turning point for the project, positioning it as a crucial energy resource on a global scale.
Curyer emphasized the importance of the mine in meeting the escalating demand for electricity driven by technological advancements and energy security concerns. The company estimates that the mine could potentially yield up to 30 million pounds (over 13,000 tonnes) of uranium annually, representing a substantial portion of the current global supply.
In a statement, Curyer underscored the strategic significance of uranium as a key resource in the evolving energy landscape, particularly in the context of nuclear power generation. The company’s long-term projections indicate the creation of 459 full-time jobs once the mine is fully operational, with an anticipated operational lifespan of 24 years.
NexGen has garnered support from Indigenous communities in the vicinity of the project area through benefit agreements. Endorsements from Clearwater River Dene Nation, Birch Narrows Dene Nation, Buffalo River Dene Nation, and Métis Nation—Saskatchewan underscore the company’s commitment to fostering positive relationships with local stakeholders.
Premier Scott Moe highlighted the economic opportunities associated with the project, emphasizing the potential for long-lasting careers and community growth. He emphasized the importance of responsible resource development that benefits local residents and contributes to global energy needs.
Uranium mining plays a pivotal role in Saskatchewan’s economy, providing employment for over 2,300 individuals, with nearly half of the workforce comprising residents from the northern regions. The province’s proactive approach to resource development aligns with its commitment to sustainable energy practices and economic growth.
In a parallel development, Denison Mines Corp. is advancing the construction of the Phoenix uranium mine in the eastern Athabasca Basin. The project, estimated to cost $600 million initially, is slated to commence production in 2028. Denison’s innovative approach includes utilizing an in-situ recovery method, showcasing advancements in sustainable mining practices.
With substantial uranium reserves and a strategic location in Saskatchewan’s mining landscape, these projects contribute to the province’s energy sector growth and underscore its position as a key player in the global uranium market.