Connect with us

Hi, what are you looking for?

Friday, Feb 14, 2025
Mugglehead Investment Magazine
Alternative investment news based in Vancouver, B.C.

News

Ontario township votes in favour of hosting massive nuclear waste repository

Despite risks, Mayor Kim Baigrie says if Ignace is selected the site will bring employment opportunities and economic growth

Northern Ontario township votes in favour of hosting C$26B nuclear waste repository
Some local Ontario residents are not happy with the decision. Image credit: TBNewsWatch/Thunder Bay News

A Northern Ontario township’s council has agreed to host a nuclear waste repository deep underground. If selected by Canada’s Nuclear Waste Management Organization (NWMO), the C$26 billion dollar site’s construction and maintenance would bring multiple employment opportunities and economic growth to Ignace.

However, the unanimous decision made on Wednesday angered some locals concerned about its potential environmental implications. In particular, several We the Nuclear Free North members were out protesting with picket signs last week.

The NWMO has narrowed its potential selection to two locations for the massive project. The other option is an area in the province’s South Bruce municipality, five kilometres from the community of Teeswater. South Bruce’s council will be holding a referendum on the matter this October.

“Following more than a decade of engagement and significant community participation, we are pleased that the Township of Ignace has confirmed their willingness to host a deep geological repository for used nuclear fuel,” Lise Morton, Vice President of Site Selection at the NWMO, said last week.

Canada’s radioactive waste management organization will make its decision on the project’s location by year-end. Its extensive construction will not start until 2033 and it won’t be operational until 2040.

Read more: ATHA Energy exploration program in Angilak Project produces promising results

Read more: ATHA Energy’s geodata director scoops prize for AI deposit targeting method

Local First Nations approval pending

The NWMO is still awaiting assent from the Wabigoon Lake Ojibway Nation, which would host the Revell Lake site within the Ignace township on its traditional territory.

Furthermore, the organization may need approval from South Bruce’s Saugeen Ojibway Nation, which would host the other potential location on its land near Lake Huron. Saugeen won’t be voting on the matter until next year.

A similar large-scale repository for spent fuel was recently completed in Finland, the world’s first. In fact, four councillors from Ignace travelled there to view it last fall.

Used fuel repository concept, Ontario. Image credit: NWMO

Canada agrees to enhance nuclear capacity immensely by 2050

Despite many recent innovations in the nuclear industry, an increasing amount of waste is expected to be produced in Canada by an ever-growing number of nuclear power units. North America’s northernmost nation was one of many that agreed to triple its nuclear capacity at last year’s COP28 conference in Dubai.

This increasing nuclear capacity is one of the factors that inspired this massive future undertaking. It will become a critical feature of Canada’s nuclear power infrastructure.

The country is home to major nuclear industry influences, particularly key uranium suppliers like Cameco Corporation (TSX: CCO) and Orano Canada. Northern Saskatchewan’s section of the Athabasca Basin holds the highest-grade uranium needed for reactor fuel in the entire world.

Many exploration companies in the region have been hunting for the next big discovery in the Basin while the uranium and nuclear market continues to have bullish conditions and major interest. Key operators in this regard include ATHA Energy Corp. (TSX-V: SASK) (OTCQB: SASKF) (FRA: X5U), Stallion Uranium Corp. (TSX-V: STUD) (OTCQB: STLNF) and IsoEnergy Ltd. (TSX-V: ISO).

 

ATHA Energy is a sponsor of Mugglehead news coverage 

 

Follow Mugglehead on X

Follow Rowan Dunne on X

rowan@mugglehead.com

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Gold

The new mineral reserves came at no additional cost and should extend operations by one year to 2031

Copper

The Chu-Sarysu basin ranks as the world’s third-largest sediment-hosted copper basin

Cannabis

'We have no idea who's accessing that cannabis,' Kindling manager Taylor Caldwell said

Gold

New drill results show shallow, broad zones of continuous mineralization