Saskatchewan’s uranium sector is entering a pivotal growth phase, with two new mines receiving federal approval from the Canadian Nuclear Safety Commission (CNSC). The last uranium mine to be approved for construction in Canada was Cameco’s Cigar Lake project in 2004.
New Mines Approved
Denison Mines Corp. received approval for its Wheeler River project on Feb. 19, 2026. NexGen Energy Ltd. had its Rook 1 Project approved by CNSC on March 5, 2026, just 14 days after the commission’s hearing. Both projects are located in Saskatchewan’s Athabasca Basin, home to some of the highest-grade uranium deposits on earth, 100 times richer than the global average.
Existing Operations
The region already hosts major operators including Cameco Corporation and Orano Canada. Cameco runs the McArthur River and Cigar Lake mines, while Orano operates the McClean Lake mill and holds stakes in both of those projects.
Construction Underway
Site preparation and initial construction activities are underway at Wheeler River, which will become Canada’s first in-situ recovery (ISR) uranium mine — a method considered less intrusive than conventional mining. Construction of NexGen’s Rook 1 project is scheduled to begin this summer. The project is centred on the high-grade Arrow Deposit in the Athabasca Basin, and will feature an underground mine, surface mill and underground tailings facility.
Transformative Potential
According to industry news site Energy Intelligence, the impact of these projects could be transformative, potentially doubling Canada’s uranium production within a decade. If both operations reach projected capacity, they could produce a combined 39 million pounds of uranium annually.
Global Implications
Such output could position Canada to reclaim its standing as the world’s largest producer of uranium, a title it lost to Kazakhstan in 2009. According to the World Nuclear Association, Kazakhstan accounts for 39 per cent of the annual global production of uranium, compared to Canada’s 24 per cent.
Analysts say shifting geopolitical conditions will further strengthen Saskatchewan’s position. Ben McGregor, with CanadianMiningReport.com, notes that recent legislative changes in Kazakhstan have significantly altered the investment climate there, making Saskatchewan an even more attractive jurisdiction for mining.
Kazakhstan’s Policy Shift
In December 2025, the Kazakh government passed new laws granting its state-owned uranium company, Kazatomprom, increased control over exploration and development. The law mandates that Kazatomprom hold a minimum 75 per cent stake in subsoil use contracts and gives it priority access to exploration licences.
“Suddenly the economics of mining exploration in Kazakhstan has shifted,” says McGregor. “Kazakhstan used to be viewed as pro-business, pro-investment and pro-exploration. Not any longer.”
With these developments, Saskatchewan is poised to become a dominant force in global uranium supply, driving economic growth and energy security for decades to come.
