Program Update: The CMPII was announced as part of Budget 2024-25 to help advance the province’s Critical Minerals Strategy by promoting Saskatchewan as a highly competitive jurisdiction across the entire value chain. Designed in a similar manner to the highly successful existing Oil and Gas Processing Investment Incentive (OGPII) program, the CMPII will share the $500 million OGPII program funding cap. The Ministry of Energy and Resources is currently engaging with industry to finalize the CMPII regulations and plans to officially launch the program in summer 2024.
The Critical Mineral Processing Investment Incentive (CMPII) complements the new Saskatchewan Critical Minerals Innovation Incentive (SCMII) program. The CMPII offers transferable Crown royalty/freehold production tax credits for qualified greenfield or brownfield value-added processing projects at a rate of 15 per cent of eligible program costs. The CMPII is open to value-added processing projects across all segments of Saskatchewan's aluminum, cobalt, copper, gallium, helium*, lithium*, magnesium, nickel, rare earth elements and zinc industries.
*Note: Helium and lithium continue to remain eligible under the OGPII program until the CMPII program regulations are in force.
The CMPII is administered by the Ministry of Energy and Resources.