Orano Canada Inc., in collaboration with Denison Mines Corp., has announced a significant step in their McClean Lake Joint Venture (MLJV). The partners are set to restart uranium mining operations using the innovative Surface Access Borehole Resource Extraction (SABRE) method, marking a new chapter in sustainable resource extraction. With a 77.5% interest held by Orano Canada and 22.5% by Denison, the MLJV is prepared to invest approximately C$7 million in 2024 to ready the site for continuous commercial operations.

Revival of Uranium Mining at McClean Lake

Set to commence in 2025 at the McClean North deposit, this project represents a resurgence in uranium mining, which was suspended in 2008 due to declining uranium prices. The joint venture aims to produce approximately 800,000 lbs of U3O8 in 2025, with potential production from McClean North and Caribou deposits reaching around 3,000,000 lbs U3O8 from 2026 to 2030.

Sustainable Approach and Technological Innovation

The MLJV’s commitment to sustainable mining is evident in the utilization of the patented SABRE method, which is designed to extract high-grade Athabasca Basin uranium ores efficiently and responsibly. This method’s successful test in 2021 provided crucial data on productivity and cost-effectiveness, reinforcing the venture’s decision to resume production at McClean Lake.

Leadership Comments on the Project’s Significance

Jim Corman, President and CEO of Orano Canada, emphasized the long-term investment in R&D that has enabled this significant move towards renewable energy. The project aligns with the company’s vision of a low-carbon future and demonstrates the impact of innovative mining methods in the industry.

David Cates, President and CEO of Denison, highlighted the milestone this project represents for the MLJV and Denison. The development of the SABRE method to a commercial-ready state is a testament to Orano Canada’s efforts and the joint venture’s commitment to advancing the mining industry.

Impact on Renewable Energy and Local Communities

This project is not only a leap forward in renewable energy but also a significant contribution to the local economy and community development. The MLJV’s initiative aligns with global efforts to transition to cleaner energy sources, showcasing the potential of innovative mining technologies in driving sustainable development.

The restart of uranium mining at McClean Lake by Orano Canada and Denison Mines is a remarkable development in the renewable energy sector. This project exemplifies how technological innovation and sustainable practices can be harmoniously integrated into resource extraction, setting a new standard for the mining industry. The SABRE method’s efficiency and environmental considerations make this project a model for future mining endeavors worldwide.

  David Cates, Denison Mines, Jim Corman, McClean Lake, Orano Canada, uranium