Latest news with #CanadianNuclearSafetyCommission
Canada Standard
21-05-2025
- General
- Canada Standard
Commission releases the final set of decommissioned Beaverlodge properties from licensing and revokes Cameco Corporation's Beaverlodge waste facility operating licence
May 21, 2025 - Ottawa Today, the Canadian Nuclear Safety Commission (CNSC) announced the Commission's decision to release the final set of 27 decommissioned Beaverlodge properties from licensing under the Nuclear Safety and Control Act (NSCA), and to revoke the waste facility operating licence held by Cameco Corporation (Cameco) for the decommissioned Beaverlodge mine and mill site. The Beaverlodge mine and mill site is located near Uranium City in northern Saskatchewan, situated within historic Treaty 8 (1899) and the Homeland of the Metis, and within the traditional territories of the Dene, Cree, and Metis peoples. The Commission concluded that the properties meet appropriate performance objectives and performance indicators to enable them to be transferred to Saskatchewan's Institutional Control Program. As part of its decision in this matter, the Commission exempted the Province of Saskatchewan from CNSC licensing for the properties. The Commission further concluded that it had fulfilled its constitutional responsibility to consult and, where appropriate, accommodate Indigenous rights in respect of its decision on this matter. In making its decision, the Commission carefully considered all submissions and perspectives received during a public hearing held in person in Saskatoon, Saskatchewan on January 30, 2025. The record of decision, which contains the Commission's rationale for its decision, is available upon request from the Commission Registry by contacting interventions@ Once available in both official languages, the record of decision will be published on the CNSC website. The submissions considered by the Commission during the hearing are available on the CNSC website. As a lifecycle regulator, the CNSC focuses on continuous engagement and consultation with Indigenous Nations and communities, as well as other interested groups before, during and after Commission proceedings in respect of licensed activities. Related links Contact Media Relations Canadian Nuclear Safety Commission Tel: 613-996-6860 Email: media@
Yahoo
21-05-2025
- Business
- Yahoo
NexGen Energy Ltd (NXE) Q1 2025 Earnings Call Highlights: Strategic Advancements Amid Market ...
Release Date: May 20, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. NexGen Energy Ltd (NYSE:NXE) is advancing through the regulatory process for its Rook One project, with Canadian Nuclear Safety Commission hearings scheduled for later this year. The company reported excellent early results from its 2025 drilling program at Patterson Corridor East, including a significant discovery phase intercept. NexGen Energy Ltd (NYSE:NXE) is well-capitalized with approximately CAD 435 million in cash and over USD 1.6 billion in expressions of interest from banks and export credit agencies. The uranium market fundamentals are strong, with increasing global demand and a robust long-term pricing environment. NexGen Energy Ltd (NYSE:NXE) is actively negotiating term deals with utilities, reflecting its strategic importance in the uranium market. The uranium market is experiencing short-term volatility, with some producers deferring contracting decisions due to current pricing levels. There are ongoing inflationary pressures in the industry, which could impact procurement and construction costs. The final federal permitting process for the Rook One project is still pending, with hearings scheduled for November 2025 and February 2026. The construction timeline for the Rook One project is projected to be 48 months, which could delay production commencement. The exploration at Patterson Corridor East is still in the early stages, with resource definition drilling not expected until at least 2026. Warning! GuruFocus has detected 1 Warning Sign with NXE. Q: Can you provide more details on the progress towards procurement of equipment and long lead items? Are there any concerns about inflationary pressures or delivery schedules? A: Lee Currier, CEO: We have a detailed construction execution plan, and the set hearing dates allow us to plan procurement effectively. While there is always pricing pressure, our project's robust economics mean any CPI impact will be minimal. We are confident in our execution plan and do not foresee changes due to inflation or delivery schedules. Q: How are you balancing the desire to deliver a mineral resource estimate for Patterson Corridor East (PCE) with the potential for further discoveries? A: Lee Currier, CEO: PCE is still in the discovery phase, and we are not yet focusing on resource definition drilling. We aim to understand the mineralization area and high-grade subdomains before moving to resource estimation, which we don't anticipate until at least 2026. Q: What are your plans for Rook One development this year, and what is the budget for these activities? A: Lee Currier, CEO: We are ready for construction pending approvals, with a clear execution plan since 2017. For 2025, we focus on exploration and maintaining the site for future construction. We are well-funded to support these activities through 2026. Q: Can you provide more details on your contracting discussions with utilities? A: Travis McPherson, Chief Commercial Officer: Contracting discussions are robust, with utilities recognizing the supply deficit and the unique value proposition of our uranium. We expect to announce more contracts soon, reflecting our strategy to maximize exposure to future uranium prices. Q: How has the federal election impacted your discussions with the government on approvals? A: Lee Currier, CEO: The set hearing dates provide clarity. We are encouraged by the new government's commitment to streamlining the regulatory process, which could benefit our project and future uranium projects in Canada. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
17-05-2025
- Business
- Yahoo
First SMR in North America To Be Operational in 5 Years
The Ontario government has green-lit Ontario Power Generation to build the first of four Small Modular Reactors (SMRs) at the Darlington New Nuclear Project site. OPG says it will be the first commercial grid-scale SMR in North America, with an in-service target date of 2030, and the first new nuclear build in Ontario in more than three decades. Ontario government support for the CAD$20.9 billion project came after OPG received a Licence to Construct in April from the Canadian Nuclear Safety Commission. The first SMR would cost $7.7 billion. All four SMRS are to be located next to the Darlington nuclear power plant east of Toronto and are expected to be running by 2035. The BWRX 300 modular plant was designed by G.E. Hitachi Nuclear Energy. It will have capacity for 300 megawatts of electricity, enough to power 300,000 homes. By comparison, Darlington's four conventional nuclear reactors each provide 935 MW. The Doug Ford government says the plants will help meet Ontario's future energy demands, which are expected to rise by 75 percent by rendering of the first Small Modular Reactor being built in Ontario. Source: Ontario Power Generation What are SMRs? Facing stiff emissions reduction requirements, several countries are starting to re-assess nuclear power and are looking at building plants that are not as expensive, risky, or politically unpalatable as conventional nuclear. Generally ,less than 300 MWe, SMRs are cheaper and can be built more quickly than large nuclear reactors, which are typically 1,000 MW and have a large footprint. Interest in small reactors is driven by a desire to reduce capital costs and to provide power away from large grid systems. SMRs are constructed with prefabricated modules and can be transported by truck or by rail — making them ideal for remote locations where a conventional reactor would not be feasible. Another important advantage is they are less likely to overheat, because their small cores produce less heat than those of large reactors. They also have fewer moving parts, including coolant pumps, which reduces the likelihood of failures that could cause an accident. The fuel, steam and generator are all in one vessel. Their small size and lower cost compared to large nuclear reactors makes Small Modular Reactors more versatile, meaning significantly more utilities will be able to use them. In Canada, SMRs are considered ideal for deployment to off-grid, remote locations such as mine sites or the oil sands, as well as communities in northern Canada reliant on diesel-fueled generators for electricity. Small nuclear reactors are also being eyed by industrial producers as carbon-free sources of heat. Other SMRs in the works In addition to OPG, other utilities including Saskatchewan's SaskPower and the Tennessee Valley Authority have expressed interest in building BWRX 300s, as have companies in Poland and Estonia, The Globe and Mail reports. Meanwhile Westinghouse, which built the world's first commercial pressurized water reactor in Shippingport, PA, in 2023 announced the launch of a smaller version of its flagship AP1000 nuclear reactor. The unit is, like the BWRX 300, able to generate 300 MW of electricity, versus 1,200 MW for the AP1000. It is expected to be available in 2027, at a cost of USD$1 billion per unit — significantly less than the $6.8B estimated to bring an AP1000 online. Some of the most advanced research on SMR technology is being conducted in New Brunswick. NB Power is currently working with two private-sector partners, ARC Clean Technology and Moltex Energy, to advance Generation IV Plus Grid-sized SMR technology for use in the Maritime province. In 2023, the New Brunswick government signed an agreement with the government of Saskatchewan to further enhance collaboration on the development and deployment of SMRs. The Western Canadian province is considering the same BWRX 300 Small Nuclear Reactor as Ontario. While no SMRs have yet been built in the United States, the Department of Energy has announced up to $5.5B in funding. According to my colleague Felicity Bradstock, an increasing number of tech companies are investing in SMR technology with the hopes of powering their high-energy-demand data centers with clean energy. The sector hopes SMR technology will be available to power several data centers by the 2030s, as their power demand grows in line with the rollout of artificial intelligence and other complex technologies. This has led Google to order seven SMRs, and Amazon, Microsoft, and Meta to follow suit. Bill Gates's Terrapower is one of the US companies currently building SMRs. Terrapower broke ground on its first project in Wyoming last August and is awaiting approval from the Nuclear Regulatory Commission, expected by the end of 2026. Further afield, France announced USD$1.1 billion to develop an SMR design. In the UK, Rolls-Royce is around 18 months ahead of the competition in developing SMR technology. In the Netherlands, the nuclear startup Thorizon announced a new consortium to develop a molten salt-type SMR. The firm is currently building a 100-MW Molten Salt Reactor (MSR), Thorizon One, which it hopes to get running in a pilot plant by the mid-2030s. It expects the first prototype to be fueled by a mix of long-lived radioactive waste from existing nuclear facilities and thorium. This will transform much of the long-lived waste into short-lived waste. MSRs are powered by a radioactive solution that blends fissionable isotopes with a liquid salt. While they can be powered using uranium, they run optimally on thorium, a cleaner, safer, and more abundant nuclear fuel. The SMR market is expected to grow from $6 billion in 2024 to $7.14 billion in 2030, growing at a CAGR of 3 percent. The Asia Pacific and Americas markets will likely be the main drivers of this growth. By Andrew Topf for More Top Reads From this article on
Vancouver Sun
09-05-2025
- Business
- Vancouver Sun
Construction of modular nuclear reactors set to start at Darlington station with total cost of $21B
Construction on the first of four small modular reactors at a nuclear station east of Toronto is set to begin this year with the entire project costing $21 billion. The first reactor at the site of the Darlington Nuclear Generating Station should be completed by 2030, officials said. The Canadian Nuclear Safety Commission approved Ontario Power Generation's plan last month to build the first of four reactors. 'We're breaking ground on a project that when complete will produce power for 1.2 million homes, 1,200 megawatts of power,' said Energy Minister Stephen Lecce. Start your day with a roundup of B.C.-focused news and opinion. By signing up you consent to receive the above newsletter from Postmedia Network Inc. A welcome email is on its way. If you don't see it, please check your junk folder. The next issue of Sunrise will soon be in your inbox. Please try again Interested in more newsletters? Browse here. The project will create 18,000 jobs, including 3,700 highly skilled jobs. Lecce said 80 per cent of the spending on the entire project will go to Ontario companies that are providing skilled workers to build the new reactors. 'Our workers, our welders, our boilermakers, our heavy equipment operators will build this project with Canadian steel, Canadian concrete, and Canadian innovation,' he said. Once built, the small nuclear reactors will operate for 65 years, the province said. OPG selected GE Hitachi's small modular reactor technology. The American-Japanese company has its headquarters in the United States. Small modular reactors are smaller-than-usual nuclear reactors that are sometimes considered safer due to their size. They can operate individually or as part of a larger nuclear complex, depending on their location's energy requirements. Green Party Leader Mike Schreiner said it's a real gamble during an ongoing trade war with the United States. 'I think it's irresponsible for the government to be bringing in an SMR with U.S. technology that's going to lock us into needing enriched U.S. uranium to have it work,' Schreiner said. The province's nuclear generator fleet are CANDU reactors that do no need enriched uranium, but the SMR technology does. The Independent Electricity System Operator said last year that electricity demand is expected to increase 75 per cent by 2050. The moves are part of a larger push from Lecce to rely more heavily on nuclear generation to power the province's growing electricity demands. The plan also includes exploring a new, large-scale plant at Bruce Power in Tiverton, Ont., considering a new nuclear plant near Port Hope, Ont., and refurbishing units at the Pickering nuclear plant to extend its lifespan. Lecce is also bullish on exporting Ontario's nuclear know-how abroad. The province has signed agreements worth more than $1 billion with companies in Estonia, Poland and the Czech Republic. Those agreements will see Canadian companies and workers build and operate reactors oversees, his office said. Our website is the place for the latest breaking news, exclusive scoops, longreads and provocative commentary. Please bookmark and sign up for our daily newsletter, Posted, here .
National Observer
08-05-2025
- Business
- National Observer
Ontario to build four small nuclear reactors costing $21 billion
Construction on the first of four small modular reactors at a nuclear station east of Toronto is set to begin this year with the entire project costing $21 billion. The first reactor at the site of the Darlington Nuclear Generating Station should be completed by 2030, officials said. The Canadian Nuclear Safety Commission approved Ontario Power Generation's plan last month to build the first of four reactors. "We're breaking ground on a project that, when complete, will produce power for 1.2 million homes, 1,200 megawatts of power," said Energy Minister Stephen Lecce. The project will create 18,000 jobs, including 3,700 highly skilled jobs. Lecce said 80 per cent of the spending on the entire project will go to Ontario companies that are providing skilled workers to build the new reactors. "Our workers, our welders, our boilermakers, our heavy equipment operators will build this project with Canadian steel, Canadian concrete, and Canadian innovation," he said. Construction on the first of four small modular reactors at a nuclear station east of Toronto is set to begin this year with the entire project costing $21 billion. The Canadian Nuclear Safety Commission approved Ontario Power Generation's plan last Once built, the small nuclear reactors will operate for 65 years, the province said. OPG selected GE Hitachi's small modular reactor technology. The American-Japanese company has its headquarters in the United States. Green Party Leader Mike Schreiner said it's a real gamble during an ongoing trade war with the United States. "I think it's irresponsible for the government to be bringing in an SMR with U.S. technology that's going to lock us into needing enriched U.S. uranium to have it work," Schreiner said. The province's nuclear generator fleet is CANDU reactors that do not need enriched uranium, but the SMR technology does. The Independent Electricity System Operator said last year that electricity demand is expected to increase 75 per cent by 2050. The moves are part of a larger push by Lecce to rely more heavily on nuclear generation to power the province's growing electricity demands. The plan also includes exploring a new, large-scale plant at Bruce Power in Tiverton, Ont., considering a new nuclear plant near Port Hope, Ont., and refurbishing units at the Pickering nuclear plant to extend its lifespan. Lecce is also bullish on exporting Ontario's nuclear know-how abroad. The province has signed agreements worth more than $1 billion with companies in Estonia, Poland and the Czech Republic.
