Despite current low prices and production cutbacks, mining continues to be a “pillar of the Saskatchewan economy,” with potash and uranium investment in the province totalling $30 billion since 2007, Economy Minister Bill Boyd said Monday.
Potash companies alone have invested $20 billion in the province since 2008, 10 times the $2 billion invested by the potash sector during the previous eight years, Boyd told the news conference for the opening of Saskatchewan Mining Week.
Boyd noted that Saskatchewan was ranked “the number one jurisdiction for mining attractiveness in Canada and second-most attractive jurisdiction in the world” in a recent survey of global mining executives by the Fraser Institute.
“This reflects our rich and diverse geological potential, and favourable policy and regulator environments,” Boyd said in his presentation. “Global leadership of this kind doesn’t happen by itself or by circumstance.”
Boyd credited the province’s “competitive resource royalty structures backed up by reliable, transparent government policies” for making Saskatchewan one of the most attractive places for mining investment in the world.
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