Released on March 8, 2010
Saskatchewan is a mineral powerhouse, and our wealth of resources and opportunities will be on display this week in Toronto at the most important international event in mineral exploration.
The Prospectors and Developers Association of Canada (PDAC) International Convention runs March 7-10. The province's mining industry will be well represented at PDAC, which is expected to attract up to 20,000 delegates from around the world for the convention and its accompanying trade show and investors exchange.
"Saskatchewan's mineral riches have been garnering international attention and we have a perfect venue at PDAC to continue to showcase our potential to industry players from around the globe," Energy and Resources Minister Bill Boyd said. "We want to share Saskatchewan's story with companies and global investors and invite them to consider the exploration and investment opportunities Saskatchewan has to offer."
Boyd and the Saskatchewan Mining Association will co-host a Saskatchewan reception Tuesday evening for current and potential investors in the province, and the minister will hold separate meetings Wednesday with mineral exploration companies, investment analysts and industry associations.
The province's mining industry is coming off another solid year, even with the global economic downturn. Exploration expenditures are expected to top $290 million for 2009. According to Natural Resources Canada, Saskatchewan accounted for 16 per cent of Canada's exploration expenditures in 2009, third highest in the country.
Saskatchewan has the richest uranium deposits in the world, and some of the largest. The province also has the largest potash reserves in the world, with a lifespan measured in centuries. The three potash companies which operate Saskatchewan's 10 mines have committed to $11.9 billion in expansions of existing mines by 2020. In addition, a number of companies are studying the potential for new mines.
Mining is Saskatchewan's third largest industry after oil and gas and agriculture. It employs more than 24,000 people directly and indirectly and contributes more than $3 billion annually to the economy in wages, goods and services, taxes and fees.
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For more information, contact:
Roy Schneider
Energy and Resources
Regina
Phone: 306-787-9694
Email: roy.schneider@gov.sk.ca