NexGen and Denison Mines uranium mine projects both going ahead

 

REGINA – It’s not every day that you get to announce two uranium mines are going ahead, but that’s what’s happening in Saskatchewan.

Saskatchewan may be working on developing nuclear power generation, but its long-term industry of uranium production is currently taking the lead, with two brand new mines going ahead in the province’s north.

Both of the new mines are advancing toward construction after receiving federal approval in recent weeks.

On February 19, 2026, Denison Mines Corp.’s (Denison) was approved to construct its Wheeler River Project by the Canadian Nuclear Safety Commission (CNSC). On March 5, 2026, NexGen Energy Ltd. (NexGen) received CNSC approval to build its Rook I Project. These are the first Canadian uranium mines to be approved for construction since 2004.

On April 2, representatives of both Denison and NexGen joined Minister of Energy and Resources Chris Beaudry at the Legislature to talk about what this means for the province.

Beaudry said, “I’d like you to consider the magnitude of these approvals. The last time a single uranium mine was approved for construction in Canada was in 2004, more than 20 years ago. These two projects were each approved in the first few months of this year.

“On behalf of the Government of Saskatchewan, I’d like to congratulate Denison and NexGen on reaching these significant milestones. As a government, we are very pleased to see their projects reach this critical stage.

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“Through the entire approval process, each company has advanced their projects in a responsible way, by building relationships with local communities, demonstrating a commitment to collaboration and economic development with Indigenous communities and making commitments to environmental stewardship.

“Wheeler River will be the first uranium mine in Canada to use in situ recovery technology, and Rook I is planned to be one of the world’s largest uranium production facilities, producing some of the highest grade uranium in the world.

 

“These mines will bring generational economic opportunities for people and communities in the north. Taken together, Wheeler River and Rook I will create over 1600 direct jobs during construction, and once they’re operational, they will employ over 700 people. That means stability and prosperity for thousands of Saskatchewan families.

“These mines are estimated to produce enough uranium over their lifetimes to produce enough electricity to power 380 million homes for a year.”

Beaudry said, “In 2025 the value of uranium sales hit an all time high of $3.2 billion which is almost a 25 per cent increase from 2024.”

He added, “Their new mines will strengthen our province position as a leader in providing energy security to Canada and our allies around the world, energy creation is the new superpower with our world class resources, stable and reliable regulatory framework and strong incentives, Saskatchewan has a bright future.”

 

NexGen

NexGen Energy Ltd. chief commercial officer Travis McPherson said, “The final approval of the Rook I project is more than a milestone. It’s the beginning of a new dawn, not just for NexGen, but for the entire province of Saskatchewan, the start of something transformational in our industry, not just in Saskatchewan or Canada, but globally.

“We’re reimagining resource development in a way that creates lasting, generational, positive impacts for all stakeholders. Rook I is a project that will re-establish Saskatchewan and Canada as a genuine energy superpower and the global leader in the supply of uranium.

 

“It comes at a critical time for Canada as well, given the depleting resources of the legacy uranium mining industry and the strong global demand picture for nuclear energy. With approval secured, we are entering into construction at a time where it’s never been clearer. The world needs clean, reliable nuclear energy, and Rook I will play a critical role in meeting that demand; 20 per cent of the world’s uranium in one mine, right when the world needs it most, and right in the heart of Canada, Saskatchewan.

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“We are in the position to produce 30 million pounds of uranium each year, enough uranium to power countries and continents.”

“This achievement is built on strong partnerships, including our Indigenous nation partners, Clearwater River Dene nation, Metis Nation of Saskatchewan, Buffalo River Dene Nation and Birch Narrows Dene Nation, as well as the Government of Saskatchewan and Premier Scott Moe and a rapidly developing local workforce and business network in the local project area.”

McPherson said close to a billion dollars had been spent on the project already, with capital all raised from outside of the province. “The mine itself will cost another $2.2 billion. So that’s $3.2 billion raised all from outside of the province, all from outside of Canada, brought into the province of Saskatchewan to support training, business capacity building, education, health and wellness, procurement, engineering services, construction activities, etc.

 

“Last year alone, more than 600 community members participated in training and trade certification programs, building critical local capacity and supporting our local workforce at the Rook I project, we will employ an average of 1,400 total jobs annually across construction operations and the broader supply chain. And in total, Rook I is expected to generate 32 and a half billion dollars in economic impact for this province.”

McPherson added, “We’re also investing in critical infrastructure in the region, including a recently announced new hotel development that will support the construction phase and long term operations of our project, as well as serve as a meaningful economic driver in the region. That’s being done in partnership with The Clearwater River Dene Nation and the Metis Nation of Saskatchewan northern region, two who, at the end of the day, will actually end up owning this hotel and operating it themselves.”

That project, announced Jan. 22,will include a 59-room hotel in La Loche, with conference center, restaurant, cultural heritage centre and playground will meet growing regional accommodation demand and create 36 local full-time roles. 3Twenty Modular will be the builder of the hotel.

He said, “Fifteen years ago, when we evaluated the world to consider investing in exploration, development, construction and operation of a uranium project, Saskatchewan was a standout choice for us, given the mineral endowment and the people. That’s a big part of why we feel the responsibility we do to elevate the entire mining industry and lead it into a new era.”

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Denison Mines

President and CEO of Denison Mines David Cates said, “Denison has a legacy of over 70 years in the Canadian uranium mining sector, and it’s previously operated uranium mining, milling, exploration and development projects in Canada, the United States, Africa and Mongolia. It was well over a decade ago that we made the strategic decision to exit our international operations and to make significant long-term investments in the uranium mining sector in northern Saskatchewan.

“Today, we have a diverse portfolio of projects, including a minority interest in the operating McLean Lake mill and mine, as well as our flagship Wheeler River Project, which consists of the Phoenix in situ recovery or ISR uranium mine, and a potential future underground mine at the nearby Griffin deposit.

 

“Phoenix will be the first ISR uranium mine to be built in Canada, and has the potential to achieve a superior standard of sustainability and reflects the best of Canadian mining ingenuity and determination.

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“Now we’re pleased to join the province of Saskatchewan and our friends at NexGen energy to recognize the significance of the receipt, recent receipt of our final regulatory approvals needed for the commencement of construction for both Denison’s Phoenix ISR project and NexGen’s Rook I project.”

Cates noted the two companies would be joining existing operators in the region “to strengthen Saskatchewan’s position as a global leader in sustainable uranium production.”

 

“Now further to this, I’m pleased to announce that site preparation and initial construction activities have already commenced at Phoenix, and that we’re preparing now to transition into full scale construction. Our project construction timeline is approximately two years, which means that our objective is to achieve first production from Phoenix by mid-2028. This positions Denison as one of the few uranium suppliers globally that’s expected to be able to provide a new sizable source of uranium production before the end of the decade.”

Cates said Denison was a “deeply Canadian company,” and “We respectfully acknowledge we are in the traditional territory of Indigenous people. Extensive project planning and permitting efforts for Phoenix have been enhanced by the genuine collaboration with our many partner First Nations, Metis organizations and northern communities.

“They have helped us better understand their connection to the land and the necessity to work together to ensure mutual benefits from the project.

“The support and encouragement of the Saskatchewan government on the journey of new mine development has meaningfully contributed to the successful advancement of Wheeler River, providing us with a rigorous and stable regulatory environment that results in the predictability and confidence needed for a large-scale investment like a new mine.”

He added, “And while this province is certainly rich in natural resources, it also has an exceptional endowment of human resources.”

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Questions

All three spoke to reporters in a scrum, and Pipeline Online asked each about the global nuclear renaissance and the fact Canada has four reactors under construction, and 18 under consideration, including two in Saskatchewan.

Beaudry replied, “Anytime we can increase production in this province and make a better life for the people of Saskatchewan, it’s a good day. And I think that today just spells it out that today is another great day for the people of Saskatchewan.

As for the potential of Saskatchewan uranium in Saskatchewan reactors, Beaudry said, “t spells out good news all around. I mean, it’s where stable province and stable country with a great source of uranium, the best uranium you’re going to find in this world.”

McPherson replied, “No only do you have the demand, which is clearly there, and growing like something we’ve never seen before, but it’s coming at a time where, as I said in my in my talk, that there’s just not enough uranium fuel going around, and so, thank goodness we were doing the work we were doing back in 2011, 2013, 2014 when we made the discovery, because it does take a long time to bring the fuel into a reactor. And so it’s, it’s an extremely exciting time, because what does that all mean? It means we need to see elevated uranium prices for a prolonged period of time to sustain itself and the industry.”

Cates said, “Well, it’s absolutely an incredible time for nuclear energy growth. One of the challenges we have in our industry is the speed it takes to take a discovery to production. And you know, our story is unique. We are two years away now that we’ve started construction from first production, and that puts us years ahead of really any other large scale source of uranium production globally. So, I think we are in an excellent place to be able to capture that growing growth and actually produce and sell uranium into what we expect to be a further improving market.”

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As for which markets Denison expects to sell into, Cates said, “Our scale of production is a bit special. We’re in the range of 6 million pounds a year on average over 10 year mine life. And so it’s large, but it’s not so big that we have to market to the entire world to place our production. And that’s allowed us to be a bit selective. And so, we are focusing on sales into North America, Canada, the United States, Western Europe, democratic Asia.

“And that’s allowed us to really try to identify markets that value Canadian and Saskatchewan uranium, and we’ve seen that really incredible response from the customers that we’re negotiating with. They know that when they buy uranium from Saskatchewan, that it’s been safely regulated and that it’s a sustainable source of production. And so they can purchase from us with great trust, knowing that the uranium that they’ll put in the reactors come from a good place.”

As for where their enrichment will take place, Cates said, “Well, that’ll be a question for our customers,” adding, “Our deliveries will be to conversion facilities, and customers would take it from there.”

With respect to NexGen’s markets, McPherson said, “So far, we’ve sold some uranium under contracts, all to US utilities, but basically, we’re open to any country that the Canadian government says we can sell it to effectively.

“They’d be long term off takes at the spot price at the time that we deliver our uranium.”

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As for hurdles, McPherson said, “Look, when we’re in operation, by far, when we look back at all the hurdles we had to overcome, by far the permitting process will have been the biggest hurdle, because there’s just elements outside of your control.

“Now all of the control is back in our hands, and the benefit of a long permitting process is, we’ve had a long time to plan, test our plan, test our systems, build a culture, develop a workforce, and so quite honestly, like we’re building a mine. But as far as mines go, this is as right down the middle of the fairway of a mining project as you can get. So there’s nothing you know. Another way of asking that is, does anything keep us up at night? And I can tell you, nothing keeps us up at night now, we’re just really excited to get going.”

He added, “We had 600 local people go through our training programs last year alone. This year, I think we’re planning about 15 training programs. And this is all about the real training that can get people. As Minister Beaudry was just saying, not just jobs, generational careers.”

While other areas of the country may have a labour shortage, McPherson said, “We’re not finding that. “We’ve seen massive uptake in those training programs that we’ve offered. That says it all.”

Asked about SaskPower’s plan to extend its high voltage transmission lines into the region, and how significant that would be for NexGen’s project, McPherson replied, “Look, these are physically small mines because of the grades, and so they’re not hugely energy consumptive. So it’s definitely not required or necessary. But for the region more broadly, yeah. I mean, it would be fantastic to see energy electricity infrastructure built up there and upgraded up there, because it is not a strong suit of that region. They do need more power up there, but the province is aware of that and working on it, so it’ll get fixed.”

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In situ

Cates elaborated on the “in situ” elements of Denison’s project, saying, “It’s the first in situ recovery uranium mine. And so, with that, we’ve had to build up our own talent base and knowledge base and expertise, because it was not readily accessible in the province of Saskatchewan. So we’ve been organizing to be able to do that, and we’ve got the skill to execute on this ISR project, and it will be the first in Canadian history.

“Construction for our project is comparatively straightforward. We’re not sinking a shaft or opening a pit. We don’t have a large mill. So the processing plant we have is quite straightforward. Really, our challenges are similar to any larger scale construction project that you’d have. We have to be safe, we have to be organized and on time, and because we’re operating in northern Saskatchewan, we have to manage the natural nature of the climate, so managing forest fire risk and harsh winter climates, those are the things that really will be focused on.

“At this stage, (there are no issues on the labor front. Our work force is not going to be huge again owing to the mining method we’re using. This is 300 to 400 people in per year in construction, and 150 people in operation. And look, this province is certainly big enough to be able to supply us with those workers.

“All mining jobs are good paying jobs with good benefits, and in our mine in particular, they’ll have great working conditions. All of our jobs are on surface. Of course, the underground mines in the region are incredibly safe, but our operators, or our miners, will really be operators. They’ll be operating pumps and controls and controlling the fluids that we’re moving through the ore body to recover uranium through the ISR mining method,” Cates said of the Denison project.

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