Why was NexGen Energy founded, and what are its objectives today?

I founded NexGen Energy in 2011, fueled by my strong belief in the advantages of nuclear energy, not just for power generation but also for its environmental benefits. Nuclear energy is a clean and reliable baseload power source, essential for sustaining our standard of living and minimizing environmental impact. We are driven by our vision to make NexGen Energy a leading producer of clean energy fuel that the world requires to address: 1) The basic provision of reliable electrical energy; 2) The need for energy that is generated from a decarbonized source in the interests of a healthy planet for current and future generations; and, given evolving geopolitical developments, 3) Energy security and its requirement for sensibly sourced fuel from countries that demonstrate peaceful respect for other countries is essential.

What is the public perception of the importance of nuclear and uranium for the green transition?

Public perception of nuclear energy is shifting, thanks to the growing awareness of the science and global policy momentum. Nuclear energy is the linchpin of the energy transition. It offers a zero-carbon emission alternative - a critical advantage in the worldwide effort to mitigate climate change - and we’re dedicated to overcoming the misconceptions associated with nuclear power, emphasizing its safety and efficiency records, and its minimal impact on the environment compared to carbon-intensive energy sources.  While incidents like Chernobyl and Fukushima have cast shadows on nuclear energy, it is essential to view them in context. For instance, the Fukushima incident resulted in no deaths from nuclear radiation, contrasting the thousands who perished due to the tsunami, and climate change will only drive more extreme weather events.

Countries like France, where 80% of the power is nuclear, exemplify safety and efficiency. With a growing acknowledgment of its environmental and safety credentials, nations, including the U.S., are embracing nuclear power. This progressive shift underscores nuclear energy’s essential role in a sustainable, low-carbon future.

Tell us more about the promises of the Rook I Project.

The Rook I Project is distinguished by its status as the world's largest single-source and highest-grade uranium project.  Rook I is scheduled to be in production later this decade, pending the final stages of permitting from Canadian authorities, and is poised to become a significant contributor to the global uranium supply, with the capacity to produce approximately 23% of the world’s mined uranium at a cost well below the global average, underscoring its economic and strategic significance. The Project will deliver up to 29 million pounds of uranium annually, generating enough energy to power nearly 46 million homes or save the equivalent emissions of taking roughly 70 million vehicles off the road yearly.

Rook I is transforming the economics of the local community through industry-leading Benefit Agreements signed with four local Indigenous communities that represent tremendous advocacy for the project.   With the objective of creating as much positivity as possible, we’ve initiated and funded training and certification programs to support the creation of long-term sustainable careers in mining, and have also established an Indigenous-owned gravel crusher business, and job opportunities that are not mine-dependent.  Rook I is creating generational change through its production of uranium and the opportunities it provides residents of the Local Priority Area. 

What markets do you foresee as your biggest consumers, and what is unique about NexGen Energy's approach to mining from an environmental perspective?

We will sell uranium to nations allied for energy security and targeting net zero. As a Canada-based company, we’ll follow Canada’s lead on how they define this.

Nuclear energy’s global footprint is expanding, and NexGen Energy is positioned to be a premiere supplier, bolstering the worldwide transition toward this clean, efficient power source.

Environmentally, NexGen Energy’s approach to mining is distinctive and conscientious. The Rook I Project integrates innovative solutions like an underground tailings management facility to mitigate environmental impact. This facility underscores our unwavering commitment to setting new standards in environmentally responsible mining practices, ensuring that our operations are economically efficient and ecologically sound.

What are the main challenges in making NexGen Energy more sustainable?

NexGen Energy's journey towards enhanced sustainability lies in our multifaceted approach to mining and stakeholder engagement. Integrating local communities into our mining plan sets a benchmark in the industry. Since our inception, we have diligently involved local Indigenous communities in every development phase, earning us 100% community support.

The Rook I Project’s location in Saskatchewan, Canada, a top-ranked jurisdiction globally for mine development, bolsters our sustainability credentials. We have meticulously crafted our operations to be exemplary in environmental and social respects. Our stringent adherence to ESG principles positions NexGen Energy as a leader in sustainable mine development, an accomplishment we are profoundly proud of.

Why is it important to change the fact that over 70% of uranium production is from state-owned and quasi-state-controlled companies?

The issue of uranium production being heavily concentrated in state-owned and quasi-controlled entities is a significant concern. The lack of diversification, especially in the Western world, underscores the necessity for rebalancing the global uranium supply. A diverse supply chain is crucial for energy security, mitigating geopolitical risks, and providing clean, non-carbon-emitting energy sources. NexGen is positioned to lead that diversification, enhancing energy security and sustainability globally.  

What motivated NexGen Energy to send a letter to G7 leaders?

Given the global significance of our Rook I Project, we want to articulate our sustainable development objectives and assure the international community of our dedication to industry-leading environmental practices. The correspondence underscores our strategic positioning and alignment with countries sharing our goals for safe and sensible nuclear fuel provision and utilization.

As we approach the construction phase, subject to permitting, it is vital to solidify our organizational ethos and approach to a project of international consequence, ensuring that our stakeholders are well-informed and engaged.

What is your message to the COP 28 audience regarding the green transition?

The urgency of the global energy transition is undeniable. The carbon-emitting power sources are simply unsustainable. Nuclear energy is a pivotal solution to this challenge, and NexGen Energy is poised to contribute significantly, operating from a safe and sovereign location with elite ESG standards. The Rook I Project, which will account for 23% of the world’s mined uranium supply, is timely and integral to addressing the challenges associated with the existing energy supply chains and closing the supply gap.

The world is at a critical juncture where the shift towards more sustainable energy sources is not just necessary but urgent. NexGen Energy is ready and uniquely positioned to be at the forefront of this transition. Our strategic location, innovative approach, and unwavering commitment to environmental, social, and governance excellence all strengthen our pivotal role in the energy transition, marking this moment as pivotal for NexGen Energy and the global community.