Released on January 26, 2005
The province's vast geological potential is centre stage at the Mineral Exploration Roundup, January 26th and 27th, in Vancouver where sessions on Saskatchewan uranium and diamond exploration feature prominently in a program that will attract over 5,000 delegates.Industry and Resources Minister Eric Cline will be promoting the province to investors who are seeking new mineral exploration opportunities at this annual event hosted by the British Columbia and Yukon Chamber of Mines.
"This is an excellent forum for delivering the message of our province's diverse mineral resources, and for getting feedback from industry representatives," Cline said. "And, it is the place for Saskatchewan to reinforce government support for this industry and our desire to strengthen the province's competitive mineral sector."
Saskatchewan is experiencing a significant upturn in mineral exploration activity, particularly with respect to uranium, diamond and gold exploration programs. Exploration expenditures are projected to be over $53 million in 2004, a significant increase from the $31 million invested in 2003. This year, companies have applied for over 3.5 million hectares of Crown mineral lands up from 2.2 million last year. The increase is a signal that exploration expenditure levels in 2005 will surpass those of 2004.
Mining is Saskatchewan's third largest industry after oil and natural gas, and agriculture. Saskatchewan is the world's largest producer of uranium and potash, supplying approximately one-third of world demand. Other materials mined in the province include coal, gold, copper and zinc, with potential for diamonds.
The annual value of mineral production in Saskatchewan is approximately $2.4 billion and accounts for over eight per cent of the province's GDP. The mineral sector is vital to Saskatchewan's economy, contributing $218 million in Crown revenues used to support important social programs. It supports 20,000 jobs, including almost 2,000 direct jobs in northern Saskatchewan, and contributes over $2 billion annually in wages, goods and services.
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For More Information, Contact:
| Bob Ellis Industry and Resources Regina Phone: (306) 787-1691 Cell: (306) 539-6948 |