Saskatchewan produces more than one-third of Canada’s primary energy from renewable and non-renewable sources. We also have half of the known global potash reserves and are one of the top oil producers in Canada. The province is among a few jurisdictions in the world that produces crude oil, natural gas, coal, uranium, biofuels, geothermal, wind and hgydro power. To top if off, Saskatoon’s world-class research facilities allow for endless opportunities for advancement and innovation.
The Saskatoon Region is home to some of Canada’s largest mining companies:
- Cameco, with its head office in Saskatoon, operates two of the world’s largest, high-grade uranium mines, McArthur River and Cigar Lake uranium mines.
- Nutrien, the recent amalgamation of PotashCorp and Agrium, is headquartered in Saskatoon. With nearly 20,000 employees and operations and investments in 14 countries, Nutrien’s crop inputs and services reach every major growing region of the world.
- K+S Potash Canada, with its head office in Saskatoon, began operations as its new Bethune mine in 2017. This is the first new potash mine to be built in Saskatchewan in the last forty years.
- In the 2018 Fraser Institute Annual Survey, Saskatchewan ranked 1st in Canada and 3rd in the world for mining investment attractiveness.
- Saskatchewan has over 20 operating mines, producing potash, uranium, coal, gold, salt, meta-kaolin, silica sand, sodium sulphate, clay and bentonite.
- In 2018, the mining sector generated $5.54 billion in GDP to the economy, with total mining and energy contributing approximately 22.4 billion in GDP.
- In the 2018 Fraser Institute Annual Survey, Saskatchewan ranked 2nd in Canada and 18th in the world for energy investment attractiveness.
- Saskatchewan is Canada’s second largest oil-producing province, third largest natural gas producing province, and is the sixth largest onshore producer in North America.
- Total upstream oil and gas investment is estimated to reach $40-$50 billion over the next 10 years to 2030.
- Saskatchewan Petroleum Research Incentive, is intended to encourage research, development, and demonstration of new technologies that facilitate the expanded production of Saskatchewan’s oil and natural gas resources.
- Oil and Gas Processing Investment Incentive, offers transferable royalty/freehold production tax credits for qualified Greenfield or brownfield value-added projects at a rate of 15% of eligible project costs.
- Targeted Mineral Exploration Incentive, supports the diversification of Saskatchewan’s mineral sector by encouraging exploration for base metals, precious metals, and diamonds.
MINING TECHNOLOGY EXPLORE PROGRAM
SREDA is pleased to offer the Mining Technology EXPLORE Program. Through this program SREDA provides financial support to international companies with technologies that are applicable to the mining industry.
Saskatoon is home to the natural resources that feed, fuel and fertilize the world, as well as the innovations that surround these industries.
Business in Saskatoon
Saskatoon’s mix of economic diversity, low business costs and high quality of life make it the perfect place for businesses and people to thrive.