The Canadian Nuclear Safety Commission has notified NexGen Energy (ASX:NXG) of the completion of the final federal technical review for the Rook I Uranium Project in the Athabasca Basin in Canada.
As a result, NexGen can move on to the final steps of the federal approval process including scheduling a commission hearing date for the Rook I Project, subject to which the Canadian Nuclear Safety Commission (CNSC) will render an approval decision on the project.
NexGen, which has a market capitalisation of $6.88 billion, says completing the technical review marks a crucial step forward for the project that has been undergoing Canada’s regulatory process since 2019.
CEO Leigh Curyer says this outcome is a testament to the company’s efforts, the collaborative support of the Indigenous Nations partners, and the transparency with the CNSC.
“Since inception, our honest and innovative holistic approach to the successful development of this generational project has set new industry standards as to what is possible, whilst positively impacting all our valued stakeholders,” Curyer says.
“Together with the Clearwater River Dene Nation, Métis Nation — Saskatchewan Northern Region 2 and Métis Nation — Saskatchewan, Buffalo River Dene Nation, and Birch Narrows Dene Nation, we are construction ready to deliver transformative and unprecedented social, economic, and environmental benefits to local communities, the Province of Saskatchewan, Canada, and the world.
“We’re not just developing a mine — we’re building strong communities while shaping a sustainable and secure global energy future. With over $800 million in cash and liquid assets, we are ready pending a positive commission decision with all activities required to immediately commence major site works in place.”
The Rook I Project is a large developed-staged uranium project in Canada. The proposed new underground mine and mill development lies in the district of the southwestern area of the Athabasca Basin.
During August 2024, the company updated the capital and operating cost estimates for the project, estimating pre-production capital costs to C$2.2 billion ($2.41 billion).
NexGen Energy is a Canadian-based company focused on delivering clean energy fuel for the future.
Write to Aaliyah Rogan at Mining.com.au
Images: NexGen Energy
