NORTHERN SASKATCHEWAN — A lengthy approvals process has come to a conclusion for a company looking to construct a uranium mine in northern Saskatchewan.
Denison Mines Corp. announced Feb. 19 that the Canadian Nuclear Safety Commission has released the decision of its administrative tribunal approving the environmental assessment and issuing the Licence to Prepare Site and Construct a Mine and Mill for the Wheeler River Uranium Project. With the EA having previously been approved by the Province of Saskatchewan, and other provincial approvals necessary to commence construction already received, federal approval of the EA and the issuance of the licence represent the final regulatory approvals required to begin construction of the Phoenix in-situ recovery uranium mine.
David Cates, president and CEO of Denison, shared his thoughts on the turning point for the project, noting that it represents a significant achievement in the pursuit of what the company intends to carry out.
"The commission decision to approve the EA and issue the licence represents a landmark achievement for Denison, as well as our staff, shareholders, Indigenous partners, and other stakeholders in the Project," said Cates.
"We thank the commission and CNSC staff for promptly delivering the positive results of the recently completed public hearing and extensive federal regulatory review process. Denison has successfully demonstrated to the commission's satisfaction that Phoenix can be built in a manner that meets Canada's stringent standards.
"I'd like to recognize the efforts of Denison's talented teams, which have worked together tirelessly over a seven-year period to engage with Indigenous and non-Indigenous communities, comply with applicable laws and regulatory requirements, build trust with regulators and the public, and ultimately advocate for the approval of this ground-breaking project.
"Phoenix is the first uranium mine in Canada to be approved for ISR mining and is the first large-scale Canadian uranium mine approved for construction in more than 20 years. It is a nation building project that reflects the best of Canadian ingenuity and determination. Owing to the use of the ISR mining method, Phoenix has the potential to generate strong economics while also achieving a superior standard of sustainability when compared to conventional mining methods. With an approximately two-year construction timeline, the timing of this approval means that the project remains on track for first production by mid-2028.
"Given Phoenix's construction ready state, our recent award of the construction management contract, and Denison's strong financial position, we are eager to conclude the company's final investment decision for the project and announce the timeline for the commencement of construction."
The CNSC's decision to approve the EA and grant the licence for the project was informed by CNSC staff recommendations and public input, with the regulatory process culminating in a two-part public hearing held in October and December 2025.
A draft licence was presented by CNSC staff to the commission during Part 1 proceedings on Oct. 8, 2025. The draft licence proposed several conditions requiring closure by Denison prior to site construction activities, which the Denison team has worked to satisfy. As a result of this pre-emptive work, and with receipt of the licence, Denison is in a position to immediately proceed with site preparation and begin construction activities as soon as a final investment decision is made.
Premier Scott Moe highlighted the news on his social media on Thursday, touching on the opportunity he feels the province has as far as cementing itself as an industry leader.
"Congratulations to Denison Mines on receiving final regulatory approvals for its uranium project in northern Saskatchewan," Moe said. "This milestone reinforces our province’s role as a global leader in responsibly produced uranium, creating jobs, supporting northern communities, and helping power a cleaner energy future."
