In 2015, the value of Saskatchewan's mineral production was approximately $8.2 billion – the second highest in Canada. Exploration expenditures in 2015 were $211 million and are forecast to reach $224 million in 2016.
Saskatchewan has two of the most desired minerals in the world – potash and uranium. The province has the largest potash industry in the world, accounting for 45% of known global reserves. The world's richest uranium deposits are located in northern Saskatchewan, which account for just over 22% of the world’s primary uranium production.
The province is home to one of the world's largest concentrations of diamond-bearing kimberlite bodies. Recent discoveries in the northeast part of the province have highlighted Saskatchewan’s potential as a diamond producer.
The province also produces:
- Silica sands;
- Clays; and
- Sodium and potassium sulphate.
It has deposits of:
- Rare earth minerals; and
- Platinum group elements.
Saskatchewan's rich mineral resources, efficient regulatory environment, and strong investment opportunities have attracted most of the global major mining companies to Saskatchewan.
In order to encourage and attract investment, Saskatchewan has established several incentive programs in the minerals sector, such as:
- A 10-year royalty holiday for new gold and base metal mines; and
- A 5-year incorporation tax rebate for mineral processing.
Saskatchewan ranks 1st in the world for mining investment attractiveness, according to the Fraser Institute’s 2016 Survey of Mining Companies, which evaluates 104 jurisdictions.
Opportunities for Servicing the Mining Industry
Information about opportunities to service Saskatchewan's mining industry can be found in the a variety of available publications.
How to Successfully Access the Mining Supply Chain provides key information to Saskatchewan manufacturers to aid in understanding the Saskatchewan mining industry, with a focus on the potash and uranium industries. Manufacturers will get accurate, relevant information to help understand the opportunities and steps involved in becoming a successful preferred supplier.
The Uranium Mining Supply Chain Requirement Guide provides information on the quantity, value and scheduling of supplies and services purchased by typical Saskatchewan uranium mining project owners and/or operators to discover, develop, operate, maintain, decommission and close out projects.
The Potash Mining Supply Chain Requirement Guide provides businesses and communities with information about the kinds of goods and services required for the construction and operation of a conventional or solution potash mine.
Supply Chain Events
The Annual Mining Supply Chain Forum brings mining project and procurement people together with manufacturing and related service companies to discuss opportunities in the mining supply chain. The event is a partnership between the Ministry of the Economy, Saskatchewan Mining Association (SMA) and the Saskatchewan Industrial and Mining Suppliers Association (SIMSA).
Saskatchewan Supply Chain Week is proclaimed annually in recognition of the valuable contribution that Saskatchewan supply chain management professionals and suppliers make to the growth and success of our provincial economy. Find more information on the Supply Chain Management Association – Saskatchewan website.