NexGen Energy Acquires Full Ownership of Key Uranium Assets, Enhancing Long-Term Strategic Objectives Amidst Structural Deficit in Uranium Market

NexGen Energy has acquired full ownership of key uranium assets from Rio Tinto, strengthening its position as a significant supplier of uranium. The acquisition aligns with NexGen's strategic goal of becoming a leading uranium producer, driven by increasing demand from global tech companies investing in nuclear-powered data centers. The move comes as the uranium market faces a structural deficit.

Vancouver, BC — NexGen Energy Ltd. (TSX: NXE) (NYSE: NXE) (ASX: NXG) has acquired full ownership of its entire portfolio of exploration assets in the southwestern Athabasca Basin, including the Patterson Corridor East (PCE) discovery, following a transaction with Rio Tinto (ASX: RIO). This move strengthens NexGen's position as a significant supplier of uranium and aligns with its strategic goal of becoming a leading uranium producer.

The acquisition, announced on Thursday, saw NexGen exercise its right of first refusal to acquire Rio Tinto's 10% production carried interest over 39 mineral claims in the region. This includes the PCE discovery, situated 3.5 km east of the world-class Arrow deposit that NexGen discovered in 2014. The transaction was finalized on July 24, 2025 [2].

The Athabasca Basin, located in the Canadian Shield of northern Saskatchewan and Alberta, currently supplies about 20% of the world’s uranium. NexGen's Rook I project, which includes the Arrow deposit and the PCE discovery, is considered one of the largest development-stage uranium projects in Canada. A feasibility study in 2021 estimated an after-tax net present value (at 8% discount) of C$3.47 billion with a 52.4% internal rate of return [1].

NexGen's CEO, Leigh Curyer, stated, "Given the world class extent, high grade and superior technical setting of mineralization discovered to date at our two projects, consolidating our portfolio at PCE and surrounding area to match our 100% ownership in our world-class Arrow deposit, is entirely in line with our strategic objective of becoming the future leader in uranium production worldwide" [1].

The acquisition comes as the uranium market faces a structural deficit. The increasing demand for uranium, driven by global tech companies investing in nuclear-powered AI data centers, underscores the importance of NexGen's move. The company's unmatched uranium endowment, including the Arrow and developing PCE deposit, meets the criteria for a secure and safe supply of uranium [2].

NexGen's shares surged more than 5% on Thursday in New York, closing at a near six-month high of $7.43 with a market capitalization of $4.4 billion. By Friday, the stock had pulled back to around $7.10.

References:
[1] https://www.mining.com/nexgen-consolidates-interest-in-athabasca-land-package-from-rio-tinto/
[2] https://www.juniorminingnetwork.com/junior-miner-news/press-releases/622-tsx/nxe/184301-nexgen-solidifies-100-ownership-of-its-entire-land-package.html