Mitsubishi to compensate NTPC ₹851 crore to exit Farakka FGD project

NexGen has started construction on its Rook I uranium project in Saskatchewan following receipt of final regulatory approval in March, according to a report from World Nuclear News.

The groundbreaking ceremony included Indigenous leaders, federal and provincial representatives, investors, industry partners, employees, contractors, and community members, including Stephen Harper, Saskatchewan Premier Scott Moe, and other officials representing rural development and Métis organizations.

NexGen described Rook I as the largest development-stage uranium project in Canada, positioning the start of construction as a shift from demonstration to delivery.

Rook I is located in the southern Athabasca Basin, about 155 km north of La Loche, on Treaty 8 territory and within territories of the Denesųłiné, Cree, and Métis. The project has benefit agreements in place with four Indigenous communities identified within its Local Priority Area and is expected to support employment, procurement, and economic opportunities across northern Saskatchewan and beyond.

The project is centred on the Arrow deposit, a high-grade uranium deposit discovered by the company in 2014. NexGen cited a measured and indicated resource estimate of 256.7 million pounds U3O8 (98,739 tU), including a probable reserve of 239.6 million pounds U3O8 at an average grade of 2.37% U3O8, plus 80.7 million pounds of estimated inferred resources.

According to the company’s 2021 feasibility study, the deposit is planned to be accessed via two shafts: an 8 metre diameter production shaft with air intake and a 5.5 metre diameter exhaust shaft for a second egress. Production is planned using conventional longhole mining, and the estimated mill capacity is targeted at 1,300 tonnes of ore per day.

NexGen said about 300 people are currently working at the site. It also reported that more than 575,000 tonnes of aggregate have been crushed and stockpiled by a Clearwater River Dene Nation-partnered business, supporting up to 50 local jobs.

On site, major earthworks and surface infrastructure are advancing. The initial 3,000-foot (914 metres) airstrip has been commissioned, expanded site accommodations are complete and occupied, and the full 5,840-foot airstrip is expected to be completed by December. Shaft development is planned for 2027.

Harper said that, when completed, Rook I would deliver 20% of the world’s uranium supply and provide lasting economic benefit for the community and beyond, while NexGen’s CEO Leigh Curyer linked the project to delivering benefits for local communities, Saskatchewan, Canada, and the world.

• Construction started after final regulatory approval received in March
• Rook I is centred on the Arrow deposit in the southern Athabasca Basin (~155 km north of La Loche)
• Planned mine access via two shafts; production via conventional longhole mining; targeted mill capacity of 1,300 tonnes of ore per day
• Site activity includes airstrip commissioning, expanded accommodations, and aggregate crushing supported by a Clearwater River Dene Nation-partnered business
• Shaft development planned for 2027; full 5,840-foot airstrip expected by December

Technology scope expands into reactors and spent-fuel recycling

Ontario-headquartered Nuclea plans to acquire the Moltex Energy technology portfolio to extend its capabilities beyond its Morpheus microreactor concept. Nuclea said the acquisition would add advanced modular and potentially grid-scale nuclear generation technologies, along with spent-fuel recycling.

The Moltex portfolio includes the WATSS (for Waste to Stable Salt) recycling process, the Stable Salt Reactor - Wasteburner (SSR-W) molten salt fast reactor technology using recycled nuclear waste as fuel, and FLEX, described as a thermal spectrum version of the SSR technology. Nuclea said the target portfolio is expected to include technology and development materials associated principally with WATSS and SSR-W.

Nuclea also cited the scale of the intellectual property in the portfolio: 80 granted patents across nine patent families in advanced nuclear technology (including nuclear fuel, reactor, chemistry and materials), plus nine pending patents on the fuel recycling process. The portfolio is described as having been developed over more than a decade, with over CAD96 million (USD69 million) of private, Canadian and US public-sector funding.

In June, Moltex Energy Canada said key stages of the WATSS process were validated using irradiated fuel from a commercial CANDU reactor at Canadian Nuclear Laboratories’ Chalk River facilities.

Asset-led transaction and cash consideration; regulatory gating on completion

Nuclea said the transaction is structured principally as an acquisition of assets. Nuclea’s Nuclea Energy Canada subsidiary will satisfy the purchase price entirely in cash, although the price has not been disclosed.

Completion remains subject to certain closing conditions, including the required approval under the UK’s National Security and Investment Act 2021.

Following completion, Nuclea said it intends to retain Moltex Energy Canada as a focused research, engineering and regulatory-development business supporting continued advancement of the acquired technologies.

Additional corporate moves: public listing path and reactor siting talks

Separately, Nuclea recently entered into a definitive business combination agreement, subject to customary closing conditions including stockholder and regulatory approvals, with Mangoceuticals, Inc. The company says the combination will provide a path to public listing.

Nuclea also stated it has signed a memorandum of understanding with the State of Utah Office of Energy Development to explore the siting of a nuclear test reactor at the Utah San Rafael Energy Lab to advance deployment of Morpheus. In addition, the company said it signed a non-binding memorandum of understanding with New Mining Co to evaluate technical and structural feasibility for deploying Nuclea’s modular reactor technology for behind-the-meter power needs.