NexGen Energy commenced construction on its flagship Rook I Project in Saskatchewan's Athabasca Basin. The company held a groundbreaking ceremony on August 13 with political and local leaders. Construction of the underground uranium mine will take four years. The project requires a $2.2 billion capital investment.
Rook I ranks among the world's largest and lowest-cost developing uranium mines. The facility will produce up to 30 million pounds of uranium annually once fully operational. This output represents approximately one-fifth of the current global supply.
The project transitions NexGen from an exploration firm to a major global producer. The company aims to capitalize on the increasing demand for nuclear energy.