Sask. holding 1st subsurface mineral rights public offering in December

Saskatchewan will be offering its first subsurface mineral rights public offering later in 2018.

The offering for rights to potash and brine mineral exploration and development will be held in a similar manner currently used for oil and gas.

It will allow the holder to explore for all natural mineral salts and compounds found more than 60 metres below the land surface.

Get breaking National news

For news impacting Canada and around the world, sign up for breaking news alerts delivered directly to you when they happen.

Sign up for breaking National newsletter Sign Up

By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy.

Energy and Resources Minister Bronwyn Eyre said this marks a milestone for the industry.

“The competitive bid process was prompted by the need to modernize the province’s procedure for disposing of subsurface mineral rights and will enhance Saskatchewan’s already strong competitive position compared to other mining jurisdictions,” Eyre said in a statement.

Lands offered must be owned by the province, cannot be within the potash area, and cannot be subject to an existing Indigenous land claim.

The first offering will take place on Dec. 18 and will subsequently be held every April, August and December.