Dual-listed NexGen Energy on Thursday announced Ministerial approval from Saskatchewan to proceed with the development of its Rook I uranium project.
NexGen is the first company in more than two decades to receive full provincial environmental assessment (EA) approval for a uranium project in Saskatchewan.
NexGen CEO Leigh Curyer described the provincial EA as a major milestone for the project. “Rook I is key in meeting the surging global demand for ethically sourced uranium,” he said.
With the provincial EA approval in place, NexGen has submitted all responses to the federal technical review of the Rook I project environmental impact statement and is awaiting completion of the federal EA process.
Further, NexGen has lodged, in advance, the initial applications for approvals of site earthworks, shaft sinking infrastructure, site water and mine waste management facilities, and associated ancillary infrastructure and services.
Saskatchewan Premier Scott Moe said that the province and its northern communities were well positioned to benefit from the increased demand for critical minerals.
“NexGen's Rook I project will help build our local communities and create jobs for many northerners while providing an ethically and sustainably produced supply of uranium to world markets,” he said.
The project is located within the Clearwater Dene Nation, Birch Narrows Dene Nation, and Buffalo River Dene Nation traditional territories, and the Métis Homeland.
The 2021 feasibility study outlines an 11-year mine capable of producing 29-million pounds a year of uranium oxide in the first five years, making it the biggest uranium mine in the world.
The total capital expenditure for the mine would be $1.3-billion, of which $157-million is allocated for early works and $1.14-million for preproduction execution capital.