Released on June 1, 2020
The Government of Saskatchewan, with the Saskatchewan Mining Association, has proclaimed May 31 to June 6, as Mining Week. The week, which includes a virtual launch, activities and presentations, highlights Saskatchewan’s world-class mining sector, its extensive contributions to local communities and the provincial and global economy. This year’s theme is “Mining: Essential to Local and Global Communities.”
Despite the COVID-19 pandemic and temporary market conditions, Saskatchewan’s mining sector is well-positioned to emerge as a leader in the provincial economic recovery, promoting food security and supplying critical resources, including clean energy, to the world. In 2019, Saskatchewan produced 12.6Mt K2O of potash, more than any other country and about 30 per cent of the world total. Saskatchewan is also the world’s second-largest uranium producer, accounting for approximately 13 per cent of global production.
“This week highlights the resilience and success of our mining sector and its growing diversification, including into diamonds, nickel and copper,” Energy and Resources Minister Bronwyn Eyre said. “In recent years, Saskatchewan has proudly welcomed new mining companies to the province. We offer some of the most extensive mineral research labs in the world, internationally renowned geoscience and extensive junior exploration opportunities.”
Saskatchewan remains a favourable jurisdiction for investment in mineral exploration and development. The province offers a stable regulatory environment, competitive royalty structures, and various incentives, including a Provincial Sales Tax exemption for exploratory and downhole drilling activity and the Targeted Mineral Exploration Incentive, which supports exploration for precious and base metals and diamonds.
“The products we mine are essential for providing food and clean energy to global communities, while providing essential jobs for Saskatchewan residents and revenues to governments,” Saskatchewan Mining Association President Pam Schwann said.
Estimated exploration expenditures in the province for 2019 were $281 million, with more than $2.3 billion in expenditures over the past decade. Saskatchewan’s mining industry generated $7.4 billion in sales in 2019 and more than $72.3 billion since 2010.
For a complete event schedule and further information about Saskatchewan Mining Week, please visit www.saskmining.ca.
-30-
For more information, contact:
Ashley Schoff
Energy and Resources
Regina
Phone: 306-787-5582
Email: ashley.schoff2@gov.sk.ca