NexGen Energy (TSX: NXE) is taking community relations to a new level, announcing this morning that it has entered into a partnership with the Clearwater River Dene Nation and Metis Nation – Saskatchewan Local 39 to build and operate a hotel in La Loche, Saskatchewan.
The arrangement will see the construction of a 59-room hotel, which will be strategically located to benefit from the construction and operation of NexGen’s Rook 1 project as well as other regional demands. The facility is expected to drive regional economic growth, while providing 36 full time jobs, and is to feature a conference center, restaurant, cultural heritage centre and playground.
The partnership agreement will see the operation financially backstopped by NexGen, however the Clearwater River Dene Nation and Metis Nation – Saskatchewan Local 39 will fully own and operate the facility once it enters operation in July 2027. Federal grant funding has also been applied for to support the infrastructure build out for the hotel.
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3Twenty Modular has been assigned as the builder for NexGen, enabling the company to remain focused on the ramp up of the construction phase of Rook I following an approval decision from the CNSC that is expected in February.
“This partnership with the CRDN and MN-S Local 39 truly exemplifies NexGen’s commitment to meaningful collaboration for community empowerment, and is a testament to over a decade of genuine and transparent engagement. The hotel initiative is one example of NexGen’s industry leading approach to the successful resource development that incorporates the core philosophy of creating outcomes beyond the Rook I Project,” commented Leigh Curyer, CEO of NexGen.
This partnership agreement follows other initiatives by NexGen to support the local community, including the establishment of an Indigenous-owned aggregate crushing company, which is expected to provide material for the Rook I project. That endeavour provided 16 local full time jobs, while the construction of Rook I, pending federal approval, will create over 1,400 total direct annual jobs during construction and operation.
“This is an incredibly important milestone for the Clearwater River Dene Nation, MN-S Local 39, and the entire Northern Saskatchewan region. The partnership to build and operate a new 59-room hotel in La Loche is a strong example of what meaningful, long-term collaboration can achieve. This model puts lasting benefits directly into the hands of the community and reflects the kind of forward-thinking investment that leads to generational impact,” commented Saskatchewan Premier Scott Moe on the partnership.
NexGen Energy last traded at $17.06 on the TSX.
Information for this briefing was found via the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
