A Canadian uranium producer has cleared a key regulatory hurdle as it seeks approval to build a mine that could significantly expand North America’s nuclear fuel supply.
Vancouver-based NexGen Energy has completed a critical technical review for its sprawling Rook I project in Saskatchewan’s Athabasca Basin. Its application for approval from Ottawa to mine the energy asset now needs final approval from Canada’s Nuclear Safety Commission.
Canada is the largest foreign supplier of high-grade uranium to the U.S., and NexGen has said the basin could account for a quarter of the world’s supply. That could be a significant source for a nuclear industry that’s growing and innovating again after decades of stagnation.
Earlier this month, the Biden administration set a U.S. goal to triple its nuclear capacity by 2050. But the goal is only achievable if the country shores up its uranium supply, says Ed McGinnis, CEO of the startup Curio, a nuclear technology company based in Washington.
