Denison Mines says construction of its Phoenix uranium mine begins this month after Canada's nuclear regulator granted it a licence to build a mine and mill in northern Saskatchewan.

Wheeler River

Denison Mines is set to begin construction of the Phoenix uranium mine at its Wheeler River project site in Saskatchewan, following recent licensing from the Canadian Nuclear Safety Commission and provincial authorities. The mine, which will use in-situ recovery methods, is the first new uranium mine in Canada in a generation and is planned to operate for 10 years.

The company has signed benefit agreements with local Indigenous communities and municipalities, including employment and training guarantees. While there is optimism about the economic benefits, local communities remain cautious due to the region's history with mining and its potential environmental impacts. Construction is expected to take two years, after which Denison will seek an additional license to operate the mine.

Denison to open Canada's first uranium mine in a generation

Denison Mines plans to start construction of its Phoenix uranium mine in the coming weeks. The company was issued a license to build by the Canadian Nuclear Safety Commission last month and it already has approval from the province. The mine is part of the company's Wheeler River project site in the Athabasca Basin. As I said, this is a global industry and demands are significant and Canadian uranium is seen as one of the best sources that you could get your product from. Denison plans to operate the mine for 10 years. The company signed benefit agreements with nearby communities including English River First Nation, the Métis Nation, Saskatchewan and Yethe Nene Lands and Resources, a group representing three First Nations and four municipalities in the Athabasca Basin. The agreements typically include employment and training guarantees, business contracts and financial benefits. But there is cautious optimism in the region where there's a long history of resource extraction. The basin communities are quite familiar with mining both in terms of how it's done well and how it can be done really poorly and the environmental impacts that result from that. So I'd say there's some level of excitement and anticipation but also weariness because they know if it isn't done in the right way there can be real long-term meaningful impacts. Denison says construction of its in-situ method mine should take about two years. Then the company will have to apply to the commission for another license to actually operate it. Jeremy Warren, CBC News, Saskatoon.

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Florida

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Breakdown