Federal Approval Granted... Uranium Mining Stocks Surge by $900 Billion in a Day

NexGen Energy Ltd. (NXE), a Canadian uranium developer, closed at $12.64 on the New York Stock Exchange, up 7.38% from the previous trading day. Trading volume reached approximately 2.46 million shares, and the company’s market capitalization climbed to about $8.35 billion (roughly KRW 11 trillion), representing a one-day increase of roughly $670 million (about KRW 900 billion).

The surge in share price was driven by Canada’s Nuclear Safety Commission granting final environmental approval and site preparation and construction permits for NexGen’s Rook I uranium project in March—effectively completing federal regulatory requirements. Following this milestone, the company announced its transition to the project’s construction phase, while Wall Street analysts maintained a “Buy” rating on the stock, reinforcing its growth narrative (saskatchewanuranium.ca).

NexGen Energy’s core business is developing the world-class, high-grade Rook I uranium deposit in Saskatchewan’s Athabasca Basin. Once completed, the facility is expected to rank among the world’s largest uranium production hubs. The company is dual-listed on the Toronto, New York and Australian stock exchanges and is increasingly viewed as a key player in the nuclear fuel supply chain amid rising global electricity demand and carbon-neutral energy policies (prnewswire.com).