Denison Mines (TSX: DML) has achieved a major milestone for their Wheeler River Project, this morning announcing the receipt of provincial environmental assessment approval for the planned ISR uranium mine.
The provincial environmental assessment was submitted for approval in late 2024 by Denison, after hitting several key milestones within the Federal approval process. The company to date has completed the technical review phase with the Canadian Nuclear Safety Commission, with the CNSC having accepted the final Environmental Impact Statement for the project, with the provincial and federal EA’s substantially being the same.
In order to move the ISR project forward, Denison now requires federal approval of the environmental assessment, receipt of a federal license to prepare the site and construct, and receipt of a provincial pollutant control facility permit. The required federal approvals are expected to be received following public hearings scheduled for October and December.
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“We thank the Province of Saskatchewan for entrusting Denison to proceed with the development of the Project, which is expected to set a superior standard of sustainability as the first ISR uranium mine in Canada. We applaud the work of the Provincial Government to uphold the province’s rigorous environmental regulations, while simultaneously recognizing the important role that the natural resources sector can play in driving societal wellbeing,” commented David Cates, CEO of Denison Mines.
First production of uranium from the proposed ISR project is expected to occur in the first half of 2028.
Denison Mines last traded at $2.81 on the TSX.
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