Steel is starting. Pounds are not
NexGen Energy (TSX: NXE) held a groundbreaking at Rook I on Thursday, August 13, about 130 kilometres north of La Loche, Saskatchewan. Premier Scott Moe spoke. So did local leaders from Métis Nation-Saskatchewan and nearby Dene nations. CBC covered the day. NexGen posted the same note on its events page.
The company says it will spend $2.2 billion over a four-year build. Surface work is underway. Shaft development is aimed at 2027. The airstrip is being stretched from 914 metres to 1,780 metres. NexGen's August 4 MD&A says licenced construction started June 8, after the Canadian Nuclear Safety Commission resolved remaining licence conditions on May 22. The construction licence arrived in March. The operating licence has not.
The number they sell is 30 million pounds
NexGen estimates Rook I could produce up to 30 million pounds of U3O8 a year, about a fifth of current global supply, over a 24-year life, with 459 full-time jobs when it is running. Those are company figures at a ceremony, not a mill that has poured yellowcake. CEO Leigh Curyer tied the mine to electricity demand from AI, manufacturing, and energy security. That is the pitch. The check is whether the mill is built on budget and whether the CNSC later lets it run.
Benefit agreements sit with Clearwater River Dene Nation, Birch Narrows Dene Nation, Buffalo River Dene Nation, and Métis Nation-Saskatchewan. The dollar terms are confidential. NexGen also partnered on a 59-room hotel in La Loche.