Released on December 3, 2002
Mining companies can now apply for grants to help them increase mineralexploration and create new jobs in Saskatchewan.
Applications are now being accepted under the $1.2 million-a-year
Prospector and Corporation Exploration Incentive Programs. Through the
programs, prospectors may receive up to 50 per cent of eligible
expenditures to a maximum of $7,500 and exploration corporations may
receive up to 25 per cent of eligible expenditures to a maximum of $100,000
on approved projects. Successful candidates will be announced in early
2003.
Industry and Resources Minister Eldon Lautermilch made the announcement at
the annual Geological Survey Open House in Saskatoon.
"Our mineral industry is recognized as one of the most technologically
advanced in the world. It is a vital part of the economy representing six
per cent of Saskatchewan's Gross Domestic Product and employing 17,000
people. These new incentives ensure its continued growth in an
increasingly competitive business environment," Lautermilch said.
The Minister said Saskatchewan is a very competitive location for the
mineral exploration and mining sector.
The Prospector and Corporation Exploration Incentive Programs are part of a
six-year, $12.6 million initiative introduced by the provincial government
in September to stimulate the mineral industry.
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For more information, contact:
Bob Ellis
Industry and Resources
Regina
Phone: (306) 787-8277