Denison Mines Corp. is a
Canadian
Canadians (french: Canadiens) are people identified with the country of Canada. This connection may be residential, legal, historical or cultural. For most Canadians, many (or all) of these connections exist and are collectively the source of ...
uranium
Uranium is a chemical element with the symbol U and atomic number 92. It is a silvery-grey metal in the actinide series of the periodic table. A uranium atom has 92 protons and 92 electrons, of which 6 are valence electrons. Uranium is weak ...
exploration, development, and production company. Founded by
Stephen B. Roman, and best known for its
uranium mining
Uranium mining is the process of extraction of uranium ore from the ground. Over 50 thousand tons of uranium were produced in 2019. Kazakhstan, Canada, and Australia were the top three uranium producers, respectively, and together account f ...
in
Blind River and
Elliot Lake
Elliot Lake is a city in Algoma District, Ontario, Canada. It is north of Lake Huron, midway between the cities of Sudbury and Sault Ste. Marie in the Northern Ontario region. Once dubbed the "uranium capital of the world," Elliot Lake has since ...
, it later diversified into
coal
Coal is a combustible black or brownish-black sedimentary rock, formed as rock strata called coal seams. Coal is mostly carbon with variable amounts of other elements, chiefly hydrogen, sulfur, oxygen, and nitrogen.
Coal is formed when dea ...
,
potash
Potash () includes various mined and manufactured salts that contain potassium in water-soluble form. , and other projects.
History
About 1,000 workers at Denison's Elliot Lake mines went on strike in 1974, protesting unhealthy working conditions.
The protest led to immediate improvements in safety conditions, and prompted
Bill Davis
William Grenville Davis, (July 30, 1929 – August 8, 2021) was a Canadian politician who served as the 18th premier of Ontario from 1971 to 1985. Davis was first elected as the member of provincial Parliament for Peel in the 1959 provincia ...
to commission
James Milton Ham to lead the
Royal Commission on the Health and Safety of Workers in Mines.
Denison served as manager for
Uranium Participation Corporation
Uranium Participation Corporation (UPC) () is a Toronto-based holding company investing nearly all of its assets in uranium, both in the form of uranium oxide () or uranium hexafluoride (), with the primary investment objective of achieving ca ...
, a Toronto-based investment fund which holds no license to deal in uranium until 2021 before it was sold to Sprott Asset Management and WMC Energy.
Ownership and leadership
15% of the company is owned by
Korea Electric Power Corporation
Korea Electric Power Corporation, better known as KEPCO (Hangul: 켑코) or Hanjeon (Hangul: 한전), is the largest electric utility in South Korea,
responsible for the generation, transmission and distribution of electricity and the developme ...
(KEPCO).
[
]
The CEO is David D. Cates, and Ron F. Hochstein is the chair of the board.
Operations
Denison's principal assets are its northern
Saskatchewan
Saskatchewan ( ; ) is a Provinces and territories of Canada, province in Western Canada, western Canada, bordered on the west by Alberta, on the north by the Northwest Territories, on the east by Manitoba, to the northeast by Nunavut, and on t ...
interests in the
McClean Lake mine
The McClean Lake mine is a uranium mine and milling operation located west of Wollaston Lake, about 700 kilometres north of Saskatoon, in the Athabasca Basin region of Saskatchewan, Canada. The McClean ore body was discovered in 1979, followed by t ...
, the Midwest Uranium Project and the Wheeler River project. Denison also manages decommissioned uranium mines in the
Elliot Lake
Elliot Lake is a city in Algoma District, Ontario, Canada. It is north of Lake Huron, midway between the cities of Sudbury and Sault Ste. Marie in the Northern Ontario region. Once dubbed the "uranium capital of the world," Elliot Lake has since ...
area.
In 2013, Denison purchased a number of uranium exploration projects from Fission Energy, including the Waterbury Lake uranium development and other properties in the
Athabasca Basin
The Athabasca Basin is a region in the Canadian Shield of northern Saskatchewan and Alberta, Canada. It is best known as the world's leading source of high-grade uranium and currently supplies about 20% of the world's uranium.
The basin i ...
.
In January 2017 Denison announced it had executed an agreement to increase ownership of the Wheeler River Uranium Project in the
Athabasca Basin
The Athabasca Basin is a region in the Canadian Shield of northern Saskatchewan and Alberta, Canada. It is best known as the world's leading source of high-grade uranium and currently supplies about 20% of the world's uranium.
The basin i ...
to 66%.
See also
*
Uranium mining in the Elliot Lake area
*
Uranium
Uranium is a chemical element with the symbol U and atomic number 92. It is a silvery-grey metal in the actinide series of the periodic table. A uranium atom has 92 protons and 92 electrons, of which 6 are valence electrons. Uranium is weak ...
*
Nuclear energy
Nuclear energy may refer to:
*Nuclear power, the use of sustained nuclear fission or nuclear fusion to generate heat and electricity
* Nuclear binding energy, the energy needed to fuse or split a nucleus of an atom
*Nuclear potential energy
...
*
Nuclear power
Nuclear power is the use of nuclear reactions to produce electricity. Nuclear power can be obtained from nuclear fission, nuclear decay and nuclear fusion reactions. Presently, the vast majority of electricity from nuclear power is produced b ...
References
External links
Denison Mines company website
{{Uranium mining in Ontario
Companies listed on NYSE American
Companies based in Toronto
Companies listed on the Toronto Stock Exchange
Elliot Lake
Uranium mining companies of Canada