The Saskatchewan Mining Association (SMA) supports Saskatchewan’s Growth Plan, including their support of a globally competitive mining sector
Thursday, November 14, 2019: The Saskatchewan Mining Association (SMA) supports Saskatchewan’s Growth Plan The Next Decade of Growth / 2020-2030, including their support of a globally competitive mining sector.
“The mining sector continues to be a primary engine of growth for the Saskatchewan economy. By providing a stable framework for growth of the mining sector, Saskatchewan communities, residents and businesses will benefit, as will the communities throughout the world that use Saskatchewan mined products to provide clean energy and increased food production,” said Tammy Van Lambalgen, Chair of the SMA Board of Directors, and Vice President, Chief Corporate Officer, Orano Canada.
“Drilling is the lifeblood of a sustainable mining sector, so we are particularly supportive of the government’s decision to provide PST relief to drilling and drilling services for exploration and mining activities in Saskatchewan,” stated Scott Frostad, Vice President, Exploration, Purepoint Uranium Group Inc. “All discoveries are made through drilling and the life of a mine is extended through drilling off additional reserves. Monies recovered through re-instatement of the PST exemption on drilling will be invested in more holes being drilled, which will increase the prospects of finding the next Saskatchewan mineral deposit or extending the life of an existing mine.”
Pam Schwann, SMA President, added that “PST relief on drilling will also increase capital available for mine projects, which will in turn benefit Saskatchewan’s valuable mining supply chain sector as almost 60% of all goods and services from mines are purchased from Saskatchewan suppliers.”
In 2019, mineral exploration companies will invest over $200 Million in northern Saskatchewan. Drilling costs represent almost half of a typical exploration budget. For every $1 spent on drilling, another $1.30 is spent on support activities, such as geophysics, groceries, camp and air support and professional services, with the majority of this spend with companies operating out of northern Saskatchewan.
“Mining companies operating in Saskatchewan are global leaders in safe, sustainable and socially responsible production. Saskatchewan and the world would benefit from increased mineral production from Saskatchewan mines, and Saskatchewan’s Growth Plan The Next Decade of Growth / 2020 – 2030 provides a framework for this success”, stated Schwann.
The Saskatchewan mining industry is a major sector of Saskatchewan’s economy, contributing over $7 billion to provincial GDP in 2018. Saskatchewan’s mining sector employs 30,000 people directly and indirectly across the province with a payroll of over $1.4 B to direct employees. It is proportionally the largest private sector employer of Indigenous peoples in the province. Saskatchewan mining companies purchased $2.9 B (58%) of goods and services from Saskatchewan suppliers in 2017 including $650 M from businesses owned by Indigenous agencies and peoples.
Saskatchewan Mining Association (SMA) is an industry-driven organization representing the mining and mineral exploration industry within Saskatchewan. SMA advocates on behalf of members on issues related to provincial and federal regulatory changes, develops and supports educational outreach programs, organizes and hosts public outreach and membership events. Please visit http://saskmining.ca/
For more information please contact: Tracey Irwin
Saskatchewan Mining Association; (306) 757-9505