On June 22, 2026, the Government of Canada released the Nuclear Energy Strategy for Canada (the Strategy). Among various commitments to enable the construction of new nuclear reactors, enhance Canada’s presence as a global nuclear supplier and exporter, and support Canada’s long-term nuclear waste management strategy, Canada made commitments to support the expansion of the uranium mining industry. With the highest-grade uranium stores in the world, Canada is well-positioned to expand domestic production and become a leader in uranium and nuclear fuel exports.
The Strategy
The Strategy is advanced under four strategic pillars:
- enabling new builds across Canada;
- being a global supplier and exporter of choice;
- expanding uranium production and nuclear fuel opportunities, and supporting working-class long-term nuclear waste management; and,
- developing new Canadian nuclear innovations (including fission and fusion).
To expand Canada’s nuclear sector domestically and abroad, and to create alliances that ensure ongoing fuel supply security for Canada’s nuclear energy industry, expanding uranium production and fuel capabilities is key. Both the third and fourth pillars achieve this by focusing on expanding mine production, advancing construction techniques to reduce project risk, and supporting emerging innovations in uranium mining.
Expanding Uranium Production
The objective relating to the third pillar of the Strategy is to double uranium exports by 2035 through new mine production, recognizing the fragility in nuclear fuel supply chains that has been exposed and exacerbated by recent geopolitical volatility. With Western and allied markets moving in favour of reliable actors, Canada is uniquely situated to address this demand, particularly in upstream uranium markets.
To achieve the goal of doubling uranium exports by 2035, Canada has committed to:
- Uranium investment policy review: Review and update policies on uranium mining investment, as necessary, by 2027, to ensure Canada effectively attracts foreign capital while safeguarding Canadian interests and energy security; and
- Fuel supply chain security: Strengthen nuclear fuel supply chains for existing and planned reactors, including securing allied supply of uranium enrichment services. Canada has further committed to advancing discussions to explore nuclear fuel alliances to strengthen supply chains.
Developing New Nuclear Innovations
To maintain relevance in a competitive and rapidly evolving industry field, the fourth pillar reinforces Canada’s continued commitment to investment in industry-led research and development initiatives for uranium mining companies, with a focus on advancing innovative construction techniques and reducing project risks and bottlenecks. Research and development support will also include continued support for emerging technologies, including innovations in the uranium mining sector.
Conclusion
Canada’s commercial advantage and the Strategy’s investment in industry-led research and development initiatives creates a strong platform for strategic, mutually beneficial alliances with international partners that will form the basis of long-term supply relationships for domestic producers.
This is a time-limited opportunity: the global nuclear build-out is accelerating, and securing long-term supply relationships now will lock in commercial and strategic advantages for decades. To learn more about the Strategy and how it can impact your business, please reach out to a member of the Major Projects Group.