Murray Wood: Who's hot... and who's not
Every Friday, Murray Wood takes a look back at the week's news and decides who's hot... and who's not. This week's list ...
“Nuclear energy has become key to meeting that demand and with it uranium has become one of the world’s most strategic resources.”
Premier of Saskatchewan Scott Moe at the Rook I Project groundbreaking. (Connor Burton/Submitted)
The mine is centred around the Arrow Deposit, which is among the largest and highest grade uranium deposits in the world.
The groundbreaking event on Thursday was attended by Buckley Belanger, Secretary of State for Rural Development, as well as former Prime Minister Stephen Harper, Premier Scott Moe, Curyer, Canadian businessperson Kevin O’Leary, and leadership from the local area.
According to Belanger’s office, the project could support roughly 1,400 jobs annually in Saskatchewan, and represents a major opportunity for northern and Indigenous communities in the province.
The mine is located about 155 kilometres north of La Loche, and about 150 kilometres south of Fond-du-Lac.
Kevin O’Leary, Canadian businessman and investor, has been a supporter of nuclear energy. (Connor Burton/Submitted)
As nuclear power gains interest as a low-carbon energy source, the uranium sector has experienced increased demand. Saskatchewan’s Athabasca Basin in recognized as one of the world’s premier uranium mining locations, with some of the hugest-grade uranium deposits globally.
On March 5, the Canadian Nuclear Safety Commission approved NexGen’s Environmental Assessment and issued a licence to prepare the site and construct for the Rook I Project.
NexGen has signed benefit agreements with several Indigenous communities in the surrounding area: Buffalo River Dene Nation, Birch Narrows Dene Nation, Clearwater River Dene Nation, and the Mètis Nation-Saskatchewan (MN-S).
Partnering with the MN-S and Clearwater River Dene Nation, NexGen will help build a 59-bed hotel in La Loche.
The Rook I Project is located on Treaty 8 territory, and is 100 per cent owned by NexGen.
Construction is expected to take roughly four years. Once complete, the mine is expected to produce up to 14 million kilograms of triuranium octoxide annually commonly known as “yellowflake,” a stable concentration of uranium oxide powder produced by milling and processing raw uranium ore. It serves as the primary intermediate product traded on the market and refined to make nuclear reactor fuel.
The amount of triuranium octoxide produced will meet about 20 per cent of the current global supply.
The mine is designed for an estimated 24 years of production. Further exploration for additional mining sites in the area is ongoing.
— with files from CJME News
- To read more stories focused on Indigenous news and people in Saskatchewan, visit EFN Media.
Read more:
