Denison Mines to Begin Construction of Canada’s First Uranium Mine in March

Denison Mines Corp. has received board approval and a construction license from the Canadian Nuclear Safety Commission to advance its Phoenix uranium mine project in northern Saskatchewan. With initial capital costs estimated at $600 million, the mine could begin production in 2028, marking the first new uranium mine in Canada in decades. The company has established impact benefit agreements with local Indigenous communities, though some nearby groups have expressed opposition.

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