“Phoenix is the highest-grade undeveloped uranium deposit in the world, with an average grade of 19.1% and 59.7 million pounds U3O8 in probable reserves (141,000 tonnes).”
Ontario Mining and Toronto’s Finance Hub 2026 - Pre-Release
2025 was a year of change for Ontario’s mining industry. Canada’s evolving international relationships heightened the focus on economic sovereignty, while federal and provincial elections brought critical minerals to the forefront of policy discussions. The provincial government’s ‘One Project, One Process’ framework aims to reduce permitting delays, as critical mineral prices show early signs of recovery from a prolonged weak cycle.