Released on December 1, 2003
One of Saskatchewan's premier mining events is taking place this week in Saskatoon, showcasing the province's vast mineral potential.The annual Saskatchewan Geological Survey Open House, December 1st to 3rd, attracts more than 250 geoscientists and exploration company officials from across Canada. Progress on geoscience studies and mineral exploration programs will be highlighted.
As well, through the Government On-Line Initiative, the government will be introducing a new Internet storefront for marketing geoscience publications. This year's Open House includes a public lecture on the search for diamonds in the Canadian Arctic at 7:30 p.m., December 2nd.
The mineral industry contributes approximately 5.3 per cent to the province's GDP. Last year the industry posted a record $2.6 billion in mineral sales.
"Our mineral industry helps drive a healthy, thriving economy," Industry and Resources Minister Eric Cline said. "When mining companies expand or invest new exploration dollars, they help create new jobs and a wide open future for us all."
Exploration for 2003 is forecast to be up from last year, with expenditures expected to be $35.7 million, an increase from $27.8 million in 2002.
Cline noted that the mineral incentives introduced last year have proven very popular with industry, and there is strong interest again this year.
To date the province has received 36 applications for project approval for the Prospectors and Corporation Exploration Incentive Program. These projects will invest $10.7 million in mineral exploration in Saskatchewan, with the province contributing $1.2 million in financial support.
These programs are part of the Mineral Exploration Incentive Program, now in its second year. The objective of the six-year, $12.6 million initiative is to stimulate the mineral exploration industry and lead to the development of new mines.
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For More Information, Contact:
| Bob Ellis Industry and Resources Regina Phone: (306) 787-8277 |