Mentioned:
One of the most historic regions in North America for uranium is about to have a new mine. And a publicly traded company is behind it.
What’s happening:
- Denison Mines (NYSE: DNN) has received the final federal approval from the Canadian Nuclear Safety Commission to build a uranium mine and mill at their Wheeler River project located in northern Saskatchewan
Why it matters:
- This is the first new approval for a large scale uranium mine to be built in Canada in over two decades
Going deeper:
- Denison Mines’ Wheeler River project is widely considered to be one of the single largest undeveloped uranium deposits in the Athabasca Basin, which is considered one of the most prolific regions for uranium discoveries in North America
- Denison Mines has publicly stated they expect it will take two years to fully construct the new mine and mill at the Wheeler River project and begin commercial production of uranium
