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Saskatchewan is the top province for mining investment, according to the latest data taken from an annual report on the mining industry in the country. Fraser Institute's Annual Survey of Mining Companies ranked Saskatchewan first, taking in responses from 350 companies rating 82 jurisdictions around the world.
The 2024 report also placed Saskatchewan in seventh place globally, saying that policy and regulatory perception carried it to its spot.
"These results from the Fraser Institute speak to Saskatchewan's strong and steady approach to attracting mining investment," said Energy and Resources Minister Colleen Young. "We offer some of the best incentive programs in the country for mineral development, and we continue to uphold our reputation of being responsive, stable and predictable as a jurisdiction where investors can move projects forward."
The 2024 survey looked at two main areas for regions in Canada and across the world. Policy perception and mineral potential were used to come up with an overall attractiveness ranking for investment. Saskatchewan placed first in Canada, and third globally, in policy perception, as companies looked at the province's policy certainty, environmental regulation, legal system and skilled labour supply.
Another top ranking for the province was received for its geological database, coming in fourth in the world, as the Saskatchewan Geological Survey maps out the province and gathers an extensive library of core samples in its southern and northern Saskatchewan facilities.
"Achieving the number one ranking in Canada is due to our ability to work constructively and collaboratively with government to enable policies that attract investment," said Saskatchewan Mining Association President Pam Schwann.
Last year, Saskatchewan reached record highs in two of its most critical mining industries, with potash production mining approximately 24.7 million tonnes of potassium chloride, while uranium production and sales reached new records - 16,700 tonnes and $2.6 billion, respectively.