CIGAR LAKE, SASK. – After about a decade of stagnation, the nuclear industry is now seeing what some are calling a renaissance. Here’s a look at the sector in Canada and its future plans.
Canada is the world’s second-largest uranium producer
In 2024, Canada produced 14.3 kilotonnes of uranium or about $3 billion in production value. The radioactive material is used to create electricity in most nuclear power plants.
The world’s top producer is Kazakhstan.
All of Canada’s uranium comes from mines in Saskatchewan. Three mines are currently producing the mineral, including Cameco’s Cigar Lake and McArthur River mines. Orano also operates the McClean Lake mine.
Saskatchewan’s government says the sector employed 3,420 people in 2023.
Two companies are building new mines in Saskatchewan. Denison Mines Corp. is working on the Wheeler River project. NexGen Energy Ltd. is constructing its Rook I site.
Canada has four nuclear power plants, three in Ontario and one in New Brunswick.
Ontario is building a small modular reactor at the existing Darlington station in Bowmanville, northeast of Toronto. Saskatchewan is planning to construct a small reactor in the 2030s.
The federal government’s plan
Ottawa has proposed 10 new reactors by 2040. It also wants to sell Canadian-made reactors to more countries and double uranium exports by 2035.
This report by The Canadian Press was first published July 12, 2026.
