NexGen Energy (TSX, NYSE: NXE; ASX: NXG) has commenced construction of its C$2.2-billion ($1.6-billion) Rook I uranium project in Saskatchewan, marking a significant expansion of uranium production capacity in Canada. The underground mine and mill facility is expected to require approximately four years to complete and is designed to eventually produce about 30 million pounds of uranium annually upon full operation. The Rook I project positions itself as a potential rival to established uranium operations in North America.
For context, Cameco's McArthur River-Key Lake operations are licensed to produce 25 million pounds annually, though 2026 guidance indicates production of 14 million to 16.5 million pounds for that year. Construction progress is already underway at the Saskatchewan site. Major earthworks and surface infrastructure development are advancing, with an initial 3,000-foot airstrip having been commissioned and expanded site accommodations now occupied.
NexGen expects to complete the full 5,840-foot airstrip by year-end 2026, while shaft development is planned to commence in 2027. NexGen Energy stated that the groundbreaking commemorates the work already underway and represents progress toward becoming a leading supplier of uranium for the next generation of nuclear energy. The project's development occurs as nuclear power increasingly assumes a larger role in meeting growing electricity demand globally, which enhances the strategic importance of uranium supply chains.
Canada is actively seeking to expand its position in the global nuclear fuel market while strengthening domestic supply chains, making this project a strategic priority for the country's energy infrastructure. Source: Mining.com, published August 14, 2026 by Cecilia Jamasmie
Source: mining.com