NexGen receives approval for uranium project in Canada

The news: Dual-listed Canadian-based sustainable fuel producer NexGen Energy has received approval from the Canadian Nuclear Safety Commission (CNSC) to begin construction of its Rook I uranium project, with works expected to start in the northern hemisphere summer of 2026.

The context: The approval follows the conclusion of a two-part commission hearing on 12 February 2026. The issuance of the Environmental Assessment (EA) marks the final regulatory approval required commence full construction of the uranium project.

The Rook I is located in the Canadian province of Saskatchewan. At full capacity, the company said the project is expected to produce up to 30 million pounds of uranium annually, representing more than 20% of the current global uranium fuel supply. Construction is expected to take around four years from commencement.

What they said: “This approach is what has defined our success to date and will continue through successful execution of the construction and operations phases. We moved with purpose and confidence to deliver a new standard for resources development,” NexGen founder Leigh Curyer said.