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Production / Operations

Denison Announces Grid Power Available at Future Phoenix Uranium Mine Site Following Completion of SaskPower Transmission Line

Denison Electrifies Phoenix Site as $600 Million Construction Decision Looms

By The Northwire Desk — AI Analysis Jan 08, 2026 · 06:30 DML · 4.61 Denison Mines Corp.
Executive Summary

The latest news release on January 8, 2026, confirms the availability of grid power at the Phoenix mine site, part of the flagship Wheeler River project in Saskatchewan. SaskPower has completed the installation of a 138kV transmission line on schedule and on budget. Denison has secured a power supply agreement for up to 8.8 MW. Access to grid power is a critical-path infrastructure milestone that provides a cost advantage over on-site diesel or alternative generation. CEO David Cates noted this represents a major de-risking step for the construction phase.

Material Impact
  • Operational De-risking: Completion of the power line removes a significant infrastructure hurdle. Electrification is essential for the In-Situ Recovery (ISR) mining method planned for Phoenix.
  • Cost Confirmation: While the transmission line was "on budget," it must be viewed against the January 2, 2026, announcement where the company revealed a 20% increase in the total project capital cost estimate, rising to $600 million CAD.
  • Infrastructure Advantage: Secured grid access in Northern Saskatchewan is a competitive moat, reducing future OpEx and carbon intensity compared to remote sites requiring hauled fuel.
  • Timeline Alignment: This milestone supports the company’s target for a Final Investment Decision (FID) in Q1 2026 and a construction start in early 2026.
DML · Price
Company Overview

Denison Mines is a leading uranium developer focused on the Eastern Athabasca Basin in Saskatchewan. Its flagship asset is the 90%-owned Wheeler River Project, which includes the Phoenix and Gryphon deposits. Phoenix is designed to be the first large-scale ISR uranium mine in Canada, boasting high grades (11.7% U3O8 in reserves) and projected low operating costs. The company also holds a 22.5% stake in the McClean Lake mill and joint venture, which returned to production in mid-2025 using the SABRE mining method.

Read the original news release →

More from Denison Mines Corp.

Jul 15, 2026 · 08:01

Denison’s Phoenix construction remains on track following final investment decision, while Cosa share settlement confirms joint venture execution.

M&A / Property Jul 10, 2026 · 02:04

Denison’s Phoenix ISR construction remains on track while exploration joint venture milestones continue to serve as routine catalysts for the project.

Drill Results Jul 02, 2026 · 06:30

Peter Ballantyne Cree Nation Withdraws Judicial Review and Confirms Support for the Wheeler River Project

Regulatory Jun 26, 2026 · 08:01

Denison advances its Cosa joint venture exploration program to support the long-term pipeline while near-term catalysts remain anchored to Phoenix construction execution.

Drill Results Jun 18, 2026 · 08:01

Phoenix construction remains on track while exploration joint venture updates continue to provide incremental progress to core production catalysts.

Drill Results Jun 15, 2026 · 08:01

Denison’s JV partner drill plans offer incremental exploration optionality without near-term catalysts to halt recent price consolidation.

Drill Results