Saskatchewan Rocks! Exploration expenditures are up tenfold
in the last five years and we lead Canada in green-fields mineral exploration!
Mining companies, workers and government have all worked hard to bring this about.
Exploration spending has risen from $23 million in 2001 to $244 million in 2006 and estimates for 2007 exploration are in the range of $277 million to $300 million, setting yet another record.
Saskatchewan's share of Canadian exploration has risen from five per cent to fourteen per cent of Canadian exploration in the last five years.
Tax and royalty changes combined with strong prices and demand have driven that growth in mineral exploration.
Tax and royalty changes are being recognized as good for Saskatchewan. Our mineral policy and potential is ranked seventh out of more than 60 of the world's leading mining jurisdictions by British Columbia's Fraser Institute
. The Institute ranks Saskatchewan among the top three provinces in Canada to do business.
Mining employs 20,000 people, pays high wages, and is the third largest industry in Saskatchewan after oil and natural gas and agriculture. It now represents six per cent of Saskatchewan's Gross Domestic Product. Mining contributes over $200 million in Crown revenues each year.
Saskatchewan is a world leader in mining and exploration for three additional reasons. We have rich mineral wealth. Uranium deposits that are a hundred of times richer than our closest competitors, excellent and abundant potash
resources and many other minerals provide excellent development opportunities.
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