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Denison Mines begins construction on Phoenix uranium mine after final approvals, targeting production by mid-2028.

Company Fundamentals
12 May 2026
PRNewsWire
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Bullish
pluang ai news

Denison Mines has received all regulatory approvals and made the final investment decision to start construction of the Phoenix ISR uranium mine in Canada, the first large-scale uranium project approved in over 20 years. Site preparation and early works began in early 2026, with full-scale construction expected by the end of Q2 2026 and first uranium production targeted for mid-2028. Despite some logistical challenges due to flooding in northern Saskatchewan, the project is progressing well, supported by strong uranium sales contracts with major North American nuclear utilities. This positions Denison as a key future uranium supplier amid rising market prices and demand.

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