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The global nuclear industry is facing a fundamental question: where will the uranium needed to fuel a new generation of reactors actually come from?
That was a key theme at RIU Essential Energy Uranium Investment Day, where NexGen Energy Director of Investor Relations Asia Pacific Stacey Golokin discussed the increasingly urgent need to bring new uranium supply into the market.
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NexGen Energy (ASX: NXG) is developing the Rook I uranium project in Saskatchewan’s Athabasca Basin, one of the world’s major uranium-producing regions.
The company’s argument is that the uranium market cannot simply rely on existing mines to meet a rapidly changing demand outlook. NexGen has highlighted the expected depletion of significant legacy production facilities in the early 2030s, creating an increasingly important window for new projects to come online.
At the same time, nuclear power is gaining renewed attention globally as countries look for reliable, low-carbon electricity and seek greater energy security.
NexGen’s Rook I has received its final federal regulatory approval and construction officially began in August 2026. Once operational, the project is designed to produce up to 30 million pounds of uranium annually, which NexGen says would represent more than 20% of current global primary uranium supply and more than 50% of Western supply.
Golokin discussed why the company believes the industry needs to move now rather than wait for the supply gap to become acute, and why projects capable of delivering large volumes of uranium from stable, trusted jurisdictions are becoming increasingly important.
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