Mining industry finds Saskatchewan attractive

Watch above: A new study suggests Saskatchewan is the most attractive place in the country, second in the world, for those in the mining industry. Joel Senick finds out what it is that sets this province apart.

SASKATOON – Saskatchewan is the most attractive area for mining investors in Canada and second in the world only to Finland, according to a right-leaning Canadian think tank. The Vancouver-based Fraser Institute gave Saskatchewan the top spot in their annual report on mining companies.

The province was given the nod due to an “abundance of mineral potential” and “productive approach to mining policy,” according to Kenneth Green, the institute’s senior director of energy and natural resources.

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“The province offers a competitive taxation regime, good scientific support, efficient permitting procedures and clarity around land claims,” said Green, in a release from the think tank. “That’s what miners look for.”

The Saskatchewan government applauded the announcement Tuesday; Economy Minister Bill Boyd said the news was “positive for Saskatchewan.”

“We’ve been able to create a business climate here in Saskatchewan that’s positive, there’s a good workforce here in Saskatchewan, a trained workforce as well,” Boyd told reporters in Regina.

“I think a stable royalty regime is important, I think a regulatory stable regime is also important.”

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READ MORE: Sask. potash royalty structure most complicated in world: report

Boyd also touted developments like the mineral administration registry Saskatchewan program, a web-based system for issuing mineral permits, claims and leases, saying they have been important for mining companies in the province.

The positive mining climate is being felt by Saskatoon-based Gensource Potash Corporation, a company that hopes to enter the market with a solution mining operation in Saskatchewan.

“Like most companies, you look for stability of government, stability of policy, which I think we have here in Saskatchewan,” said Rob Theoret, CFO and co-founder of Gensource.

“We have a lot … of resource and an awful lot of opportunity and we just want to create wealth in our community.”