Denison Mines stock price rises, receives final regulatory approval

LootboxPhobia · 2026-02-20T03:19:32+00:00

Denison Mines Corp (NYSE:DNN) stock price increased by 2.9% as the Canadian Nuclear Safety Commission approved the environmental assessment and license for the Wheeler River uranium project. This marks the removal of the final regulatory hurdle for the construction of the Phoenix uranium mine, which is expected to begin production in mid-2028. The mine is the first approved project using ISR mining methods, offering strong economic benefits and sustainability.

LootboxPhobia

2026-02-20 03:19:32

Abstract generation in progress

Investing.com – Denison Mines Corp (NYSE:DNN) stock rose 2.9% on Thursday after the Canadian Nuclear Safety Commission (CNSC) approved the environmental assessment and issued a license for the company’s Wheeler River uranium project.

These federal approvals mark the removal of the final regulatory hurdle needed to begin construction of the Phoenix in-situ recovery (ISR) uranium mine. The project has previously received approval from Saskatchewan and other necessary provincial permits.

Denison President and CEO David Cates stated, “Phoenix is Canada’s first approved ISR uranium mine and the first large-scale Canadian uranium mine approved for construction in over 20 years.” The company indicated that, with an estimated construction timeline of about two years, the project is expected to begin production in mid-2028.

The Wheeler River project is located in the eastern part of the Athabasca Basin in northern Saskatchewan and is a joint venture between Denison (90% ownership, operator) and JCU (Canada) Exploration Ltd. (10%). The project hosts the Phoenix and Gryphon uranium deposits, discovered by Denison in 2008 and 2014, respectively.

According to the company, the Phoenix deposit, due to its ISR mining method, has the potential to compete with the lowest-cost uranium mining operations globally. Denison claims that this method offers strong economic benefits while maintaining superior sustainability compared to traditional mining methods.

Denison stated that the company is now ready to proceed with site preparations and construction activities immediately upon making a final investment decision.

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