Relief measures have been announced for Saskatchewan’s mining industry in response to the impacts of the COVID-19 pandemic.
The provincial government has announced amendments to the Mineral Tenure Registry Regulations which will provide mining exploration companies additional time to increase capital and access mine sites to carry out exploration activities, work programs and engage with local and First Nations communities.
The amendments will be implemented as follows:
- Waiving expenditure requirements for the current term and subsequent 12 months for mineral claims and leases that were active on March 18, 2020, State of Emergency declaration date;
- Allowing expenditures incurred during the period for which relief is granted to be applied toward expenditure requirements of The Mineral Tenure Registry Regulations; and
- Allowing the holder to meet requirements for refund of deficiency deposits after the relief period has ended.
“Our government recognizes the unique challenges that the mining sector has faced during the past few months,” stated Energy and Resources Minister Bronwyn Eyre.
“Exploration constitutes the research and development of mining, and these measures provide companies more time to do that important work and to participate in our province’s economic recovery.”
The changes apply to northern exploration programs for all Crown minerals including uranium, diamonds, gold, copper, zinc, cobalt and rare earth elements. According to a release from the government, these measures come at no cost, but allow companies to hold on to dispositions previously obtained.
