Saskatchewan appears to be an attractive market for mining investment.
The province is ranked first in Canada and third in the world for mining investment attractiveness, according to the Fraser Institute’s 2022 Annual Survey of Mining Companies.
The survey measured 62 jurisdictions around the world on mineral potential and policy perception to create the rankings.
Saskatchewan is 3rd in the world, Western Australia is 2nd, and the U.S. State of Nevada is first.
The province is also second in the world for mineral potential.
“Saskatchewan continues to be a standout jurisdiction to invest in because of our outstanding resource potential and strong policies that support mineral exploration and development,” Energy and Resources Minister Jim Reiter said in a news release.
“It is no surprise that Saskatchewan remains the best jurisdiction in Canada for mining investment attractiveness and one of the top jurisdictions globally,” Foran Mining Executive Chairman and CEO Dan Myerson said. “A business-friendly government and world class geology allows companies like Foran to build multi-generational, infrastructure-type sustainable mining assets and provide the world with the critical minerals needed for global electric revolution.”
“The potential is here and largely untapped,” Reiter said. “Since this survey was done, we’ve announced additional tax and exploration incentives, along with a critical minerals strategy to drive new investment. These will all positively impact the industry in the province.”
The provincial government noted the Saskatchewan Mineral Exploration Tax Credit was increased from 10 to 30 per cent in this year’s budget and the Targeted Mineral Exploration Incentive was expanded from $750-thosuand to $4-million annually and applies to all hard rock exploration drilling province-wide. An additional $2.4-million of new funding was committed to improve access to geological data by explorers.