en.Wedoany.com Reported - Denison Mines Corp.'s Phoenix uranium project in Saskatchewan, Canada, has entered the site preparation and early construction phase, with the goal of achieving first uranium production by mid-2028. The company's board of directors made a final investment decision in February this year, following federal regulatory approval from the Canadian Nuclear Safety Commission and provincial approvals.
The Phoenix project is part of the Wheeler River project, which Denison describes as the largest undeveloped uranium project in the eastern region of the Athabasca Basin. The deposit contains the high-grade Phoenix and Gryphon uranium discoveries, made in 2008 and 2014 respectively. The project will utilize In-Situ Recovery (ISR) mining, a method that dissolves uranium minerals in place by injecting mining solutions into the ore body, then pumping the uranium-bearing solution to the surface for recovery. This technology currently accounts for more than half of global uranium production and does not generate traditional mine tailings.
As Canada's first uranium mine to use the ISR method, Phoenix is also the first major Canadian uranium project approved for construction in over 20 years. Denison stated that the project represents a bold step forward for the Canadian uranium mining industry, describing it as a national construction project that showcases the ingenuity, collaboration, and determination of Canada's mining sector. Previously, Denison awarded the construction management contract to Wood Canada Limited to oversee mine construction.
As of mid-May, tree clearing within the main mine site, installation of construction management facilities, construction of the on-site helicopter pad, and civil works for the concrete batch plant site have all been completed, and aggregate production at a nearby quarry has commenced. Ongoing civil activities include preparation for a future airport runway. Denison previously expected full construction to begin by the end of the second quarter of this year.
Over the past few years, Denison has signed several agreements with Indigenous communities, covering recognition of traditional landholders, involving Athabasca communities in environmental monitoring, and committing to share project benefits, including community investment, business opportunities, employment and training opportunities, and economic compensation. Representatives from the English River First Nation, Kineepik Métis Local, Métis Nation-Saskatchewan, and Ya’thi Néné Lands and Resources joined the Denison team at the groundbreaking ceremony. English River First Nation Councillor Jenny Wolverine told Saskatchewan radio station CKCOM that this partnership is built on trust, honesty, and of course, humor, understanding, and compromise, and that thanks to Denison's support, they have the capacity to do great things for their people. Saskatchewan government representative and Minister of Labour Relations and Workplace Safety Ken Cheveldayoff stated at the ceremony that the results we celebrate today reflect years of planning, innovation, and commitment, and that the project will have a significant positive impact on the province during both construction and operation, creating good jobs and economic opportunities that will benefit Saskatchewan citizens for many years to come.
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