Released on December 2, 2019
The Saskatchewan Geological Open House is celebrating its 50th anniversary from December 2 to 4 in Saskatoon.The event is co-hosted by the Ministry of Energy and Resource’s Saskatchewan Geological Survey (SGS) and the Saskatchewan Geological Society. SGS performs high-quality geoscientific research that informs and supports responsible exploration and development of the province’s mineral and energy sectors.
Current mineral-focused research by the SGS will be presented at the Open House, along with technical presentations by both industry and academia, and numerous networking opportunities.
“I am proud to mark the 50th anniversary of the SGS, a proud Saskatchewan institution, whose work is integral to Saskatchewan’s mining sector,” Energy and Resources Minister Bronwyn Eyre said. “SGS policy development and strong investment attraction strategies support Saskatchewan’s reputation as one of the top mining sectors globally for investment attractiveness.”
Saskatchewan remains the world’s largest potash producer and second-largest uranium producer. It possesses almost half the world’s potash reserves and has the world’s richest uranium deposits. The province’s total mineral sales for 2018 were $7 billion.
In order to continue to grow Saskatchewan’s mining sector, the province’s new Growth Plan details a goal to increase the annual value of potash sales to $9 billion, increase the annual value of uranium sales to $2 billion and increase new mineral exploration by 2030. To achieve these goals, a number of actions have been outlined to encourage mining investment and exploration.
The government is reinstating Provincial Sales Tax exemptions for exploratory and down-hole drilling activity in the mining sector. Support will also continue for the Targeted Mineral Exploration Incentive (TMEI), which encourages and will increase exploration for base and precious metals and diamonds in targeted regions of the province. The TMEI came into effect in October, 2018. Within the two-month application window, there were a total of seven successful applications for incentive funding, which resulted in 110 new diamond drill holes completed by seven companies in the targeted eligibility area of the province.
Minister Eyre kicked off the Open House week by hosting a media tour at the Saskatchewan Subsurface Geological Lab with Saskatchewan’s Chief Geologist Gary Delaney. The Lab, which opened in 1958 and was the first facility of its kind in Canada, has archived almost seven million vials of drill cuttings collected by industry from oil, gas, potash and coal exploration and development. It also includes more than 9,000 square metres of storage space that contain 565 kilometres worth of core. In fact, if all the core was laid out end-to-end, it would reach from Regina to La Ronge.
Industry uses the Lab to inform investment strategies for the exploration and development of energy, potash and coal resources in Saskatchewan. The Geology and Petroleum Engineering Departments at the University of Regina also use the Lab to support student training.
The public is welcome to attend the Geological Open House at the Delta Bessborough Hotel in Saskatoon, December 2 to 4.
To find out more about the 2019 Geological Open House, please visit www.openhouse.sgshome.ca.
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For more information, contact:
Deb Young
Energy and Resources
Regina
Phone: 306-787-4765
Email: deb.young@gov.sk.ca