Canada's NexGen receives environmental assessment approval for uranium project

Nexgen Energy

09/11/2023 12:26

Nov 9 (Reuters) - Canadian uranium miner NexGen Energy
 NXE.TO  has received Saskatchewan's environmental assessment
(EA) approval to proceed with the development of its 100%-owned
Rook I Project, the company said on Thursday.
    The Rook I Project, which has a total initial capex of C$1.3
billion ($943 million), is the largest development-stage uranium
project in the country.
    NexGen said it was the first company in more than two
decades to receive full provincial EA approval for a greenfield
uranium project in Saskatchewan.
    The approval will allow the company to progress with
securing other provincial and federal approvals to construct the
project.
    Demand for uranium from nuclear reactors is expected to
climb by 28% by 2030 and nearly double by 2040 as governments
ramp up nuclear power capacity to meet zero-carbon targets,
according to a report by the World Nuclear Association (WNA). 

($1 = 1.3783 Canadian dollars)

 (Reporting by Arunima Kumar in Bengaluru; Editing by Sriraj
Kalluvila)
 ((Arunima.Kumar@thomsonreuters.com; Twitter: https://twitter.com/Aru_Kumar94
 ;))