NexGen Energy has received the final federal licence required to begin construction of its Rook I uranium project in northern Saskatchewan, marking a decisive step in the development timeline for one of the most closely watched uranium projects in Canada.
The licence issued by the Canadian Nuclear Safety Commission authorises site preparation and construction of the proposed mine and processing facility. With this approval now secured, NexGen can move the project into the construction phase once the company completes its remaining planning and financing steps.
The decision follows a lengthy regulatory review process that included environmental assessment, technical evaluation and public hearings. Federal regulators examined the project’s environmental management plans, engineering design and safety framework before concluding that the development can proceed under the conditions set out in the licence.
Rook I is located in the Athabasca Basin, a region known globally for hosting some of the highest grade uranium deposits in the world. The project is centred on the Arrow deposit, discovered by NexGen in 2014 and subsequently advanced through resource definition and feasibility work. Over the past decade the deposit has been developed into one of the largest undeveloped uranium resources in the basin.
Geiger Counter Limited (LON:GCL) is a Jersey closed-end investment company, which invests in uranium exploration and production stocks.
