Over the decades, uranium carried baggage: Cold War weapons programs, nuclear accidents like Chernobyl and Fukushima, and volatile prices. Once overlooked amid oil, gas, and battery metals, it’s now stepping back into the spotlight. As countries race to decarbonize, secure energy, and stabilize supply chains, uranium is being reframed as a clean, reliable, and strategically critical resource.
For Canada’s lawyers, the revival of uranium touches regulatory frameworks, Indigenous rights, international trade, environmental review, and constitutional obligations. As global geopolitics shift, the stakes – and the opportunities – are enormous.
Chris Langdon of McCarthy Tétrault LLP sees the transformation as both market-driven and policy-driven. He says Canada, with its long-standing uranium sector and trusted regulatory framework, is “uniquely positioned.” Saskatchewan’s Athabasca Basin remains one of the richest uranium regions in the world, he says, and Canadian companies have deep experience navigating permitting, consultation, and compliance matters to develop projects successfully.
Langdon notes uranium’s resurgence is not a fleeting trend. While public discussion has focused on critical minerals such as lithium, cobalt, and rare earth elements, nuclear power is increasingly seen as a cornerstone of the energy transition, “and the long-term fundamentals are strong.” The Fukushima disaster in 2011 may have caused a prolonged downturn, but global decarbonization targets, rising electricity demand, and geopolitical concerns over energy security are now reshaping the market.
Mahdi Shams of MLT Aikins LLP emphasizes the legal and reputational edge uranium in Canada holds. “The resource is there, but the legal landscape is equally important. Without clarity around permitting, consultation, and export controls, investors will hesitate.” Shams points out that Canada’s predictable regulatory framework, long-standing institutions, and reputation for responsible mining make it highly attractive to global buyers and one of the best places in the world right now for uranium.
When looking at the potential, Shams, who is a partner in the firm’s Vancouver office, notes, “our expertise is across Canada, and we represent key producers operating mines and mills in Saskatchewan.” Additionally, MLT Aikins represents several junior exploration companies active in the Athabasca Basin. “These companies engage in extensive exploration, discovery, and project development to find and develop new uranium resources.”
Meanwhile, Jessica Kennedy, partner at Bennett Jones, underscores the international dimension. “We’re now in a bifurcated uranium world. On one side, supply chains run through Russia and Kazakhstan; on the other, Western buyers urgently seek to buy from stable, rule-of-law jurisdictions like Canada. That split is shaping transactions.” Countries like the US, which has pledged to triple its nuclear capacity by 2050, are increasingly turning to allies they can trust.
The war in Ukraine and sanctions on Russia have accelerated the urgency surrounding uranium. Kazakhstan, the world’s largest uranium producer, supplies roughly 43 percent of global uranium but is politically intertwined with Russia. By contrast, Canada produces about 13 percent of the world’s uranium and is the second-largest exporter, offering reliability and legal certainty that investors and governments now prioritize.
Energy expert Sergey Sukhankin, in his analysis for the Macdonald-Laurier Institute, notes the bifurcation of the global market and Canada’s strategic role. “Western countries are looking to decouple from high-risk suppliers in Central Asia and Russia, making Canada a key player in secure supply chains.” This geopolitical context underscores how legal guidance is central to maintaining Canada’s advantage, particularly in structuring contracts and navigating export controls.
Price volatility may complicate development. Uranium has long experienced boom-and-bust cycles. “Like copper – or any other metal – uranium has supply and demand cycles,” Langdon observes. “The long-term demand story is strong, but pricing has been volatile even though it now seems to be trending in the right direction.” Hedging tools and offtake agreements are increasingly integrated into project structures to stabilize revenue and attract investment, adding layers of legal and commercial complexity.
Shams points out that uranium is subject to strict trade and export controls: “Exports are governed by bilateral Nuclear Cooperation Agreements and safeguards that guarantee peaceful use. Counsel must navigate licensing, compliance, and treaty obligations.”
Langdon adds that “From a legal perspective, uranium is in its own category. You’re not just navigating mining laws. You’re dealing with nuclear safety and control law, environmental law, Indigenous law, trade law, and even constitutional law.” The legal landscape includes strict licensing of uranium under the Nuclear Safety and Control Act and its regulations, together with potential oversight by the Canadian Nuclear Safety Commission. There can be overlapping federal and provincial environmental requirements, together with Indigenous consultation steps, and export restrictions on uranium under the Export Import Permits Act and Nuclear Non-proliferation Import and Export Control Regulations.
Projects in northern Saskatchewan and elsewhere often intersect directly with Indigenous territories, triggering the constitutional duty to consult and, where appropriate, accommodate.
Indigenous consultation is increasingly moving toward partnership models, Kennedy says: “Equity stakes, co-management structures, and impact benefit agreements are becoming standard. Structuring those arrangements so they’re enforceable and enduring is often just as important as the underlying mineral rights.”
Technology is also reshaping demand. Small modular reactors (SMRs) and microreactors offer faster-to-deploy, safer, and "more adaptable" alternatives to traditional nuclear plants, she says. “We’re entering an era of AI and quantum computing that will require enormous amounts of reliable power.”
Shams adds that “nuclear anything” carries baggage in the public imagination. Even though Canada’s safety record is excellent, there’s residual fear. “Transparency, trust, and community benefit need to be front and centre.”
He adds that microreactors could reduce reliance on fossil fuels while expanding Canada’s uranium market.
“This technology has the potential to provide clean, reliable energy to remote communities and various industries, further supporting Canada’s commitment to a sustainable energy future. With growing and continuous power demands, countries are going to increasingly look at nuclear microreactors and small modular reactors – furthering the need to find sustainable uranium resources.”
The United States, Canada’s largest uranium customer, seeks stable suppliers for its planned nuclear expansion. Sukhankin’s report emphasizes that Canada’s highly concentrated, low-enriched uranium makes it a strategic asset for US utilities. He observes in his analysis, “Western countries are increasingly conscious of sourcing from politically stable jurisdictions. Canada’s reliable supply.”
In this context, uranium could become an important bargaining chip in trade negotiations with the US, given the Trump regime’s desire to impose tariffs on most countries, including Canada. Shams observes, “For Canada, that creates opportunity.”
Government policy is increasingly supportive. Canada has designated uranium a critical mineral, signalling Ottawa’s recognition of its strategic importance. Incentive programs, regulatory reforms, and trade agreements are expected to accelerate permitting and reduce investor risk.
Despite these advantages, legal hurdles remain formidable. Permitting processes, environmental assessments, and Indigenous consultation obligations can extend projects by several years. “Even with high-grade ore and strong demand, the pace of development is governed as much by law as geology,” Shams notes. Export licensing, bilateral agreements, and compliance with domestic and international rules add layers of complexity, requiring meticulous planning and counsel.
Public perception is critical. Nuclear energy carries historical baggage, and concerns over waste, safety, and environmental impacts can affect approvals. Kennedy observes that SMRs and transparent consultation practices may help shift the narrative: “If communities and investors see safety, adaptability, and fairness in project design and governance, the sector will gain momentum.”
SMRs and microreactors also change the legal conversation. Smaller footprints and modular deployment may trigger different permitting and safety rules. Lawyers are being asked not only to navigate existing frameworks but to help shape regulatory approaches. Kennedy notes, “We’re not just keeping projects compliant; we’re helping define the next generation of nuclear governance.”
While challenges remain, the convergence of geopolitics, technology, and policy creates an unprecedented opportunity for Canada. “The geology is world-class. The demand is there,” Shams says. “What will decide Canada’s role is how effectively we manage the complexity – regulatory, constitutional, and reputational. That’s where lawyers have a pivotal role to play.”
The mineral once dismissed as a relic of the Cold War past is now shaping the future. For Canada’s lawyers, navigating uranium projects means balancing opportunity with responsibility, blending technical, regulatory, constitutional, and international trade expertise.
As Kennedy concludes, “This isn’t just about mining.” It’s about climate policy, energy security, and geopolitics – all converging. That makes uranium one of the most strategically important resources Canada has.
“The challenges will be in navigating the impact assessment and permitting processes to mine it.”