Released on March 5, 2007
Industry and Resources Minister Eric Cline will promote Saskatchewan’s record levels of mineral exploration activity, including its diamond potential, at the 75th diamond anniversary of the Prospectors and Developers Association of Canada (PDAC) conference in Toronto, March 4 – 7.
Over 14,000 delegates whose expertise is searching for and developing new mineral deposits will attend the Prospectors and Developers Association of Canada conference to get the latest news on mineral exploration activities around the globe. It is considered the most important event in the international world of exploration.
Cline will host a reception for current and potential investors where he will address the growing opportunities to develop new mineral deposits in Saskatchewan. The best illustration of these opportunities is the fact that mineral exploration expenditures have risen from $23 million in 2001 to an estimated $272 million in 2007, surpassing last year’s record of $239 million. In addition, the record 15.1 million hectares being explored in Saskatchewan today is more than six times the amount explored in 2001.
“Since 2001 we have introduced changes to virtually all tax structures that apply to the exploration and mining industry,” Cline said. “We continue to implement progressive changes and the Prospectors and Developers Association of Canada conference is the premier event for ensuring key players know about all that Saskatchewan has to offer.”
Mining is Saskatchewan's third largest industry after oil and natural gas, and agriculture. It represents six per cent of the province's GDP. The value of mineral sales in 2006 is estimated at about $3 billion. The mineral sector contributes over $200 million each year in Crown revenues to Saskatchewan’s economy. 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: 787-1691
Email: rellis@ir.gov.sk.ca