Saskatchewan is the world’s largest potash producer and the second largest primary uranium producer – responsible for all of Canada’s uranium production. The McArthur River/Key Lake mine is the world’s largest high-grade uranium operation, though due to weaknesses in the uranium market, production at the site has been suspended (Nov 2020).
Saskatchewan is also known to possess a range of other minerals such as gold, base metals, coal, diamonds, platinum group metals and rare earth elements (Government Publication). Over the last 10 years the value of Saskatchewan’s mineral industry has more than doubled (Mining Canada). According to the Saskatchewan government, mineral production in the province in 2015 was valued at approximately $8.2 billion (CAD) – the largest increase of any province by value for that year. However, in 2016, low prices of uranium and potash had a large impact on Saskatchewan’s mining industry, which resulted in the province experiencing the largest drop in production value year-over-year in Canada – with the total value around $5.5 billion (Mining Canada). According to the Saskatchewan government, mineral sales from the province in 2019 were the fourth highest in the country, valued at approximately $7.4 billion (CAD).
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