The provincial government is aiming to attract investment and double production by 2030 through measures including expanding the mineral exploration tax credit from 10 per cent to 30 per cent and providing $3.25 million more for an annual grant program. (The Canadian Press)
Talking point: The grants provide help to companies looking to explore base or precious metals, or diamonds in a specified region. Saskatchewan will also review its permitting process for exploration activities. The province is home to 23 of the 31 minerals on Canada’s critical minerals list, according to the province, including uranium, potash, lithium and helium. The federal government touted it as “positioned to be a key player in the new opportunities presented by rare earth elements,” when it invested $7.5 million into processing activities in the province in September 2022. Saskatchewan’s strategy follows a national one announced in December as western countries look to ensure future supply outside of China, a top producer.