ProjectUraniumGoes mixed
Denison Wheeler River (Phoenix ISR) uranium project
In-situ recovery uranium mine at Wheeler River in Saskatchewan's Athabasca Basin, 95% owned by Denison Mines. The 2023 feasibility study gives 56.7 million pounds of reserves over a 10-year life, averaging 8.4 million pounds a year in the first five years; the capital cost after the investment decision is estimated at C$600 million. Denison took its final investment decision on February 24, 2026 after receiving its CNSC construction licence, began site work in March and full-scale construction in July 2026, and targets first production by mid-2028. It has firm sales of over 8 million pounds, plus over 7 million in advanced negotiation, with customers including North American nuclear plant operators.
- Status
- Under construction
- Direction
- Mixed: Can go more than one way.
- Capacity
- 8.4 Mlb U3O8/yr (feasibility-study average, years 1-5)
- Where
- Saskatchewan
- Investment decision
- 24 February 2026
- In service
- 2028
- Needs new laws?
- No: can proceed under existing rules
Articles that cite this record
Events
- Peter Ballantyne Cree Nation withdraws its judicial review after an agreement with Denison and gives its consent to Wheeler River
- Canadian Nuclear Safety Commission issues a construction licence for Denison's Wheeler River (Phoenix in-situ recovery) uranium project, valid to February 2031
- Denison takes its final investment decision on the Phoenix in-situ recovery (ISR) uranium project at Wheeler River
- Peter Ballantyne Cree Nation seeks judicial review of Saskatchewan's environmental approval of Denison's Wheeler River project