Located in the heart of Canada, the province of Saskatchewan has the resources needed to help ensure food and energy security for generations. Saskatchewan is one of the only jurisdictions in the world that sustainably produces crude oil, natural gas, helium, potash, uranium, gold and renewable energy such as solar, wind, and hydro generated power. In consecutive annual surveys from the Fraser Institute, international mining executives rank Saskatchewan first in Canada and third in the world for mining investment attractiveness.
When it comes to critical minerals, Saskatchewan punches above its weight. The province is home to 27 of 34 critical minerals on Canada’s official list, including potash, uranium, helium, copper, zinc, rare earth elements (REEs), and lithium. The United States Geological Survey has identified 50 critical minerals as strategically important, and this Canadian province has 39 of them.
Saskatchewan is the world’s top producer of potash. This mineral is key in the fight against global food insecurity and is one of the three key crop nutrients farmers need to support yields and feed a hungry and growing world. Uranium is also a provincial cornerstone. Saskatchewan has the largest high-grade uranium deposits in the world and is the second largest global producer of this crucial mineral for generating reliable low-carbon electricity, today and into the future.
For investors in the oil and gas industry, Saskatchewan again has much to offer. In the Fraser Institute’s annual survey, Saskatchewan consistently ranks among the most attractive jurisdictions in North America to invest in oil and gas. The province is Canada’s second-largest oil producer, producing about 450,000 barrels per day with a target of 600,000 barrels per day by 2030. Saskatchewan is home to many enhanced oil recovery (EOR) projects, including one of the world’s largest commercial carbon capture, utilization, and storage projects, and produces some of the lowest-emissions, responsibly-sourced oil on the planet.
Saskatchewan’s emerging helium sector continues to see year over year growth, producing from dedicated helium wells rather than as a byproduct of natural gas production. Saskatchewan’s helium sector now accounts for three percent of global supply – on track to meet the ten percent target set in the province’s Helium Action Plan.
On top of having rich deposits of raw resources, Saskatchewan also has a unique research and development environment that continues to innovate across industrial and resource sectors. The Petroleum Technology Research Centre, International Minerals Innovation Institute, Global Institute for Water Security, the Canadian Light Source, and the Sylvia Fedoruk Canadian Centre for Nuclear Innovation, are all organizations based in the province who provide expertise to researchers and investors alike. The Saskatchewan Research Council (SRC), Canada’s second largest research and technology organization, supports more than 1,600 clients in 22 countries around the world. This cluster of experts provides the foundation for generational investment opportunities.
Recently, Saskatchewan opened North America’s first-ever minerals-to-metals rare earth processing facility, operated by the SRC. They employ many of the world’s leading experts in rare earth element processing and are working to make Saskatchewan a global REE hub. As the world races to access and secure a reliable supply of critical minerals, Saskatchewan is a key link for North America’s supply chain.
The Government of Saskatchewan strongly supports the growth of its energy and mining sectors. Last year, it launched Securing the Next Decade of Growth: Saskatchewan’s Investment Attraction Strategy, which includes many incentives for investors. These incentives include:
- Two new incentive programs focused on emerging critical minerals;
- A new multi-lateral well program to support innovative and sustainable tech to increase oil and gas production; and
- Extensions and increased funding for several successful incentives like the Oil and Gas Processing Investment Incentive and the Saskatchewan Petroleum Innovation Incentive
Energy and mining products from Saskatchewan make their way to customers on every corner of the planet. With nine trade offices across the globe, Saskatchewan is truly here and around the world. All of this and more is the Saskatchewan Advantage. To learn more about it and experience it today, visit InvestSK.ca.