Why Canada could become the next nuclear energy 'superpower'

Nadine Yousif
BBC News, Toronto

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NexGen, whose project is located in Canada's remote, uranium-rich Athabasca Basin in northern Saskatchewan, is now worth nearly $4bn (£2.98bn), despite the fact that the mine won’t be commercially operational until at least 2028.

If fully cleared by regulators, NexGen’s project alone could push Canada to become the world’s largest producer of uranium over the coming decade, knocking Kazakhstan out of the number one spot.

Other companies have also rushed to Saskatchewan to capitalise on the boom, starting their own exploration projects in the region, while existing players re-opened dormant mines.

With its rich resources, Canada’s mining companies see the country playing a major role in the future of nuclear energy, meeting a demand for uranium that is poised to rise after nearly two dozen countries committed in COP28 climate conference to tripling their nuclear energy output by 2050.

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