Saskatchewan has retained its #1 spot as the best place in Canada, and is the second-best jurisdiction globally, for mining investment attractiveness, according to the 2021 Fraser Institute Annual Survey of Mining Companies.
“Saskatchewan is poised to be a critical minerals powerhouse,” Energy and Resources Minister Bronwyn Eyre said. “We are a global leader in uranium and potash production and an emerging producer of helium, lithium, copper, zinc and rare earths. The world needs what Saskatchewan has to offer.”
The Survey calculates an Investment Attractiveness Index based on factors such as jurisdictional stability, regulations, competitive tax regimes, infrastructure and geological attractiveness. With 84 mining jurisdictions included in the 2021 Survey, Saskatchewan received a score of 88.32, only two points behind Western Australia, the top-ranked jurisdiction.
Saskatchewan has occurrences of 23 of 31 critical minerals necessary, according to Canada’s critics minerals list, for “sustainable, economic success,” including potash, uranium, helium, lithium, copper and rare earth elements (REE). Saskatchewan saw record potash sales in 2021, which accounted for one-third of global potash production. In 2020, the Government of Saskatchewan announced $31 million for the Saskatchewan Research Council to establish a REE Processing Facility, that is expected to be fully operational by 2024. New support to accelerate the development of helium processing and liquefaction hubs in the province was also recently announced.
The Targeted Mineral Exploration Incentive (TMEI) program provides a 25 per cent rebate, up to a maximum of $50,000 per year, to encourage drilling activity in support of exploration in Saskatchewan. Preliminary estimates indicate the TMEI reached another all-time high in 2021-22, attracting $11.7 million of investment and about 140 new drill holes for programs dedicated to exploration of gold, silver, copper, nickel, cobalt, zinc and platinum group metals.
Saskatchewan’s mining sector generated $8.6 billion in sales in 2021, the second-highest level on record. Exploration expenditures were $214 million and are estimated to increase to $263 million in 2022. The mining sector delivers tens of thousands of direct and indirect jobs and is a key economic driver across the province.
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For more information, contact:
Jill Stroeder Energy and Resources Regina Phone: 306-787-6315 Email: Jill.stroeder@gov.sk.ca
TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.
The S&P/TSX composite index was up 103.40 points at 24,542.48.
In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.
The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.
The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.
The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.
This report by The Canadian Press was first published Oct. 16, 2024.
TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.
The S&P/TSX composite index was up 205.86 points at 24,508.12.
In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.
The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.
The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.
The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.
This report by The Canadian Press was first published Oct. 11, 2024.
TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.
The S&P/TSX composite index was up 0.05 of a point at 24,224.95.
In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.
The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.
The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.
The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.
This report by The Canadian Press was first published Oct. 10, 2024.
