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Saskatchewan’s mining industry employs over 30,500 people who work in over 20 different mining operations across Saskatchewan. The province supplies a variety of minerals in Canada and internationally. It is best known for being the world’s leading producer of potash, producing roughly one third of the world’s supply. “Saskatchewan is also the world’s second-leading producer of uranium, supplying roughly 17 per cent,” said Pam Schwann, the executive director of the Saskatchewan Mining Association (SMA).
Saskatchewan’s mining industry also produces minerals such as lignite coal, which supplies over 50 per cent of the province’s baseload power. Gold, salt, sodium sulphate, bentonite and other clays are also mined.
“One of the key advantages Saskatchewan has over other jurisdictions [in producing these minerals] is its geologic framework,” Schwann said. Both the potash-bearing Prairie Evaporite Formation and the uranium-bearing Athabasca Basin host world class deposits in terms of tonnage and grade.
Saskatchewan also has an advantage because of a positive policy environment. Schwann explained the annual Fraser Institute Survey identified that Saskatchewan ranked 13th out of 96 global jurisdictions in terms of offering overall policy attractiveness for investment. Saskatchewan’s postsecondary institutes, including the Apprenticeship and Trade Certification Commission, also lend a hand. “[They] provide an educated and skilled workforce for the mining sector, although industry expansion and retirement demographics will challenge these institutions to provide a sufficient number of graduates to fill emerging career opportunities.”
These advantages would mean little without the support of Saskatchewan people. Schwann cited a recent public opinion survey that found out over 90 per cent of the Saskatchewan population either very strongly or strongly supports mining.
“Saskatchewan’s mining companies are ensuring that local communities benefit from the extraction of resources through activities including sponsorship of events, scholarships and supporting community
infrastructure, and being a leading employer of First Nation and Métis people,” said Schwann.
Investing in Saskatchewan is a smart choice for a variety of reasons. Large companies look for large deposits and, as the province hosts the largest deposits of potash and the highest grade deposits of uranium, Saskatchewan is the playing field where companies want to be. Technology advancements also allow companies to explore for minerals at a greater depth and with greater accuracy. New deposits continue to be discovered in areas that were not formerly considered highly prospective.
“Mineral development is a high-risk venture, with millions and billions of dollars being invested in the ground without a guaranteed return on investment for many years, if ever,” said Schwann. Saskatchewan’s stable and predictable fiscal regime also attracts investment. “Companies are confident that if they are successful in identifying a deposit, they will be allowed to responsibly develop it and recover and profit from their investment.”
Saskatchewan minerals are great “travellers” and one of the reasons the province is a leading exporting jurisdiction. The key destinations for potash are United States, China, India, South East Asia, and South America. Saskatchewan’s uranium travels to the Americas (US, Canada, Latin America), Europe and the Far East.
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