It’s been a significant month or two for Saskatchewan’s uranium industry. First was the approval of the Denison Wheeler River uranium project. Then Cameco inked a couple billion-dollar deal in India with the prime minister and premier in attendance. And now we have the approval of another new uranium mine in northern Saskatchewan.
NexGen’s Rook 1 mining project on the west side of the Athabasca Basin was greenlighted by the federal government late last week. It’s a project that will take four years to construct with a value of $2.2 billion.
With a multi-year construction schedule, it is another major project that will ensure high levels of capital continue to flow into the province for the remainder of this decade.
The final approval came shortly after the final hearing on the project. This may be a sign that the Ottawa bureaucrats are catching on to the prime minister’s declaration that decision processes will be accelerated. It took a year or more for the feds to schedule the hearing and then just days to approve it after the session.
