Released on May 13, 2024
The Government of Saskatchewan is investing $10 million over ten years into the Saskatchewan Geological Survey's (SGS) Public Geoscience Initiative. This initiative is a key tool in driving mineral exploration activities and reducing mining investment risk in the province. It will allow the SGS to undertake new critical minerals-focused geoscience programs and continue to provide industry with high-quality public data to make more informed investment decisions.
"The Government of Saskatchewan is committed to supporting the jobs and growth that nearly 13,000 mining and exploration workers have come to rely on," Energy and Resources Minister Jim Reiter said. "The funding for the Public Geoscience Initiative will strengthen the information available for industry to target development and bring more investment dollars into the province."
This initiative reaffirms Saskatchewan's commitment to being one of the best places in the world to invest in mining and critical minerals. Launched last year, Securing the Future: Saskatchewan's Critical Minerals Strategy lays out four goals for growing our province's mining industry. The Public Geoscience Initiative will support all four of the strategy's goals:
- Including increasing the province's share of Canadian mineral exploration spending;
- Doubling the number of critical minerals being produced;
- Growing Saskatchewan's production of potash, uranium and helium; and
- Establishing Saskatchewan as a rare earth element hub.
"The availability of public geoscience resources in Saskatchewan has been invaluable to our exploration efforts," Appia Rare Earths & Uranium Corp. CEO Tom Drivas said. "These resources have provided us with critical data and insights that have helped reduce risks, improve investment opportunities and allowed us to target our exploration activities more effectively, increasing the likelihood of making significant discoveries."
"The continued investment in our mining industry by government is why Saskatchewan remains a world-leading destination for mining investment," Saskatchewan Mining Association President and CEO Pam Schwann said. "I hear from our members regularly that the province's competitive incentive programs and high-quality geoscience data are the main reasons why they chose to do business in Saskatchewan."
Saskatchewan is a leading destination globally for mining investment. In 2023, the province's mining industry saw nearly $13 billion in mineral sales, estimated to account for over 20 per cent of the Canadian total, the second highest of any province. Saskatchewan is also projected to lead the country in mining investment in 2024, with mineral resource development spending of nearly $6 billion, - almost one-quarter of the national total. Increasing production and diversifying our critical minerals and mining sector will ensure Saskatchewan continues to lead the way in sustainable development and remains on track to meet our Growth Plan goals.
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