{"id":4790,"date":"2026-02-26T16:34:06","date_gmt":"2026-02-26T16:34:06","guid":{"rendered":"https:\/\/theinvestormanifesto.com\/index.php\/2026\/02\/26\/denison-greenlights-first-major-canadian-uranium-mine-in-20-years\/"},"modified":"2026-02-26T16:34:06","modified_gmt":"2026-02-26T16:34:06","slug":"denison-greenlights-first-major-canadian-uranium-mine-in-20-years","status":"publish","type":"post","link":"https:\/\/theinvestormanifesto.com\/index.php\/2026\/02\/26\/denison-greenlights-first-major-canadian-uranium-mine-in-20-years\/","title":{"rendered":"Denison Greenlights First Major Canadian Uranium Mine in 20 Years"},"content":{"rendered":"<\/p>\n

Denison Mines (TSX:DML,NYSEAMERICAN:DNN) has approved construction of what it says will be Canada\u2019s first new large-scale uranium mine in more than 20 years, setting the stage for work to begin next month at its flagship Phoenix project in northern Saskatchewan.<\/strong><\/p>\n

The company announced that its board has made a Final Investment Decision to proceed with development of the Phoenix in-situ recovery (ISR) uranium mine, part of the broader Wheeler River project in the Athabasca Basin.<\/p>\n

\u201cMaking a Final Investment Decision and the upcoming initiation of construction activities at Phoenix mark the beginning of a new era in Denison’s history and the Canadian uranium mining sector,\u201d said David Cates, Denison\u2019s president and chief executive officer.<\/p>\n<\/p>\n

\u201cWith construction anticipated to take approximately two years, commencing construction in March is expected to allow us to maintain our objective to achieve first production from Phoenix by mid-2028 and ultimately position Denison as one of the few uranium suppliers globally who will be able to provide a sizeable new source of uranium production before the end of the decade,\u201d Cates added.<\/p>\n

Wheeler River is described by Denison as the largest undeveloped uranium project in the infrastructure-rich eastern portion of the Athabasca Basin. <\/p>\n

The project hosts the high-grade Phoenix and Gryphon deposits and is a joint venture in which Denison holds a 90 percent interest and serves as operator, with JCU (Canada) Exploration Company Limited holding the remaining 10 percent.<\/p>\n

Phoenix is planned as an ISR operation, a method that extracts uranium by circulating solutions through the ore body rather than conventional open-pit or underground mining. <\/p>\n

Permitting for the project began in 2019. The Province of Saskatchewan approved the project\u2019s Environmental Assessment in July 2025, followed by federal approval and the grant of a Licence to Prepare Site & Construct by the Canadian Nuclear Safety Commission in February 2026.<\/p>\n

The investment decision comes amid a broader resurgence of uranium development activity in Saskatchewan, home to some of the world\u2019s highest-grade deposits.<\/p>\n

Just days before Denison\u2019s announcement, Australia-headquartered Paladin Energy (ASX:PDN,OTCQX:PALAF) said it had received provincial approval for the Environmental Impact Statement for its Patterson Lake South (PLS) project, also located in the Athabasca Basin. <\/p>\n

The approval, granted on February 18 by Saskatchewan\u2019s Minister of Environment, followed technical acceptance of the document in June 2025 and a public review process.<\/p>\n

\u201cThe Environmental Assessment approval is an important regulatory milestone for the PLS Project and a prerequisite for permits and licences issued by provincial and federal authorities leading to construction and operation,\u201d Paladin said.<\/p>\n

Paladin is continuing to work with the Canadian Nuclear Safety Commission as it advances the federal licensing process.<\/p>\n

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.<\/strong><\/p>\n<\/p>\n

This post appeared first on investingnews.com<\/div>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Denison Mines (TSX:DML,NYSEAMERICAN:DNN) has approved construction of what it says will be Canada\u2019s first new…<\/p>\n","protected":false},"author":1,"featured_media":4791,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17],"tags":[],"class_list":["post-4790","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing"],"_links":{"self":[{"href":"https:\/\/theinvestormanifesto.com\/index.php\/wp-json\/wp\/v2\/posts\/4790","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/theinvestormanifesto.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/theinvestormanifesto.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/theinvestormanifesto.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/theinvestormanifesto.com\/index.php\/wp-json\/wp\/v2\/comments?post=4790"}],"version-history":[{"count":0,"href":"https:\/\/theinvestormanifesto.com\/index.php\/wp-json\/wp\/v2\/posts\/4790\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/theinvestormanifesto.com\/index.php\/wp-json\/wp\/v2\/media\/4791"}],"wp:attachment":[{"href":"https:\/\/theinvestormanifesto.com\/index.php\/wp-json\/wp\/v2\/media?parent=4790"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/theinvestormanifesto.com\/index.php\/wp-json\/wp\/v2\/categories?post=4790"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/theinvestormanifesto.com\/index.php\/wp-json\/wp\/v2\/tags?post=4790"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}